Daily Index Cycle update

US equities saw some rather significant gains, sp +21pts @ 2068. The two leaders - Trans/R2K, settled higher by 0.9% and 0.6% respectively. Near term outlook is highly uncertain... whilst the 'Greek situation' continues. A break >2072 would be suggestive of new historic highs.. otherwise... 2025/20 zone.


sp'daily5

R2K

Summary

Little to add.

Market had a surprisingly strong day, after opening gains that largely failed.. but from sp'2048, the market appears to have benefited from a relentless short-stop cascade.

The R2K saw a particularly strong reversal, having been lower by -0.5% in the morning, but closing with a rather bullish spike-floor daily candle.
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Closing update from Riley


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a little more later...