Daily Index Cycle update

US equities closed moderately mixed, sp -7pts @ 2074 (intra low 2065). The two leaders - Trans/R2K, settled -0.1% and +0.2% respectively. Near term outlook offers a FOMC spike to 2085/90 zone... before a strong reversal. The manner in which the market closes Wednesday will be pretty important.


sp'daily5

Nasdaq Comp'

Summary

Nasdaq was particularly strong today, settling +0.2% @ 4937. If sp' can attain a daily close in the 2090s tomorrow/Thursday, it would be suggestive of 2120/30s in April.. which would equate to Nasdaq back above the giant 5k threshold
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Little else to add... on what were relatively minor moves.. ahead of the Wednesday FOMC.
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Closing update from Riley


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a little more later...