Daily Index Cycle update

US equities settled moderately higher, sp +8pts @ 2079. The two leaders - Trans/R2K, settled higher by 0.2% and 0.5% respectively. Near term outlook offers high probability of one further wave lower to the 50dma in the low sp'2060s. From there.. the broader upward trend will likely resume.


sp'daily5

Dow

Summary

Little to add.

Market looks set for another minor wave lower... before resuming the broader upward trend.
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Closing update from Riley


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a little more later..