Daily Index Cycle update

US equities closed weak, sp -7pts @ 2106 (intra low 2097). The two leaders - Trans/R2K, settled lower by -1.2% and -1.0% respectively. Near term outlook offers a little further downside, but the broader trend remains bullish.. perhaps all the way into mid June.


sp'daily5

R2K

Trans

Summary

*notably, the two leaders - Trans/R2K, have both marginally broken the broader upward trend that stretches back to last October.
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For the sp'500, it was a near perfect hit of soft rising trend... new historic highs look due... and its even possible we'll see a weekly close in the 2130s.

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a little more later...