Daily Index Cycle update

Equities closed moderately weak, sp -10pts @ 2105. The two leaders - Trans/R2K, settled -0.1% and +0.1% respectively. Near term outlook offers Tuesday weakness to sp'2095/90, before the broader trend reasserts itself. The sp'2130s remain a valid upside target by end week.


sp'daily5

R2K

Trans

Summary

Transports - 'old leader' looks increasingly poised to break to the upside. A daily close in the 8900s would be decisive enough to offer clarity that a challenge for new historic highs in the 9300s is viable in June.
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As for the sp'500.... some moderate weakness to the 2095/90 zone tomorrow... before 2120/30s later this week. The weekly cycle offers the 2140s before end month.
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Mr Riley is back :)


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a little more later...