Daily Index Cycle update

US equities settled moderately higher, sp +9pts @ 2091 (range 2074/93). The two leaders - Trans/R2K, settled +0.5% and -0.3% respectively. With the break above key resistance, outlook has turned bullish, with new historic highs in all indexes viable in the near term.


sp'daily5

Trans

Summary

Little to add.

The closing hour was a very significant victory for the bulls, and a weekly close in the sp'2100s looks possible, not least if Oil can attain a net Friday gain.
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Closing update from Riley



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a little more later...