Daily Index Cycle update

US equities closed moderately mixed, sp +2pts @ 2101. The two leaders - Trans/R2K, settled -0.1% and +0.3% respectively. Near term outlook still offers the sp'2060s, along with VIX 17s. Broader trend remains powerfully bullish though, with viable upside to the 2150/2250 zone by early summer.


sp'daily5

Dow

Summary

Suffice to add.... market remains broadly in chop mode... having ramped 7% since early February. A natural retrace to the 50dma on most indexes would still seem the natural outcome in the near term.
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Closing update from Riley



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a little more later...