Closing Brief

US equities closed with somewhat significant gains, sp +22pts @ 2121. The two leaders - Trans/R2K, settled higher by 0.5% and 1.0% respectively. Near term outlook is for new historic highs in some of the indexes, but certainly not the Trans/R2K which remain seriously lagging.


sp'60min

Summary

*a closing hour of very minor chop.. as most are seemingly resigning themselves to further upside in the days ahead.
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So, a day for the equity bulls, and there is little doubt new historic highs are due within the near term.

The bigger weekly cycle is offering the sp'2140s in the near term, and by the next FOMC of June 17'th, both the weekly/monthly cycles will be in sync.. offering 2170s.

*I remain short via GLD, a small consolation was a closing black-fail candle on the daily cycle.

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more later... on the VIX