Daily Index Cycle update

US equities closed somewhat weak, sp -3pts @ 2104 (intra high 2114). The two leaders - Trans/R2K, settled lower by -2.0% and -0.1% respectively. Near term outlook is for continued broad market upside.. into the sp'2120/30s. R2K broke a fractional new historic high of 1268.


sp'daily5

R2K

Trans

Summary

Little to add... on what was a relatively quiet day.

The significant daily decline of -2.0% in the transports is interesting, but the broader market sure isn't looking like it is in any real danger... not least with another record high in the R2K.
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Closing update from Riley



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a little more later..