Daily Index Cycle update

US equity indexes closed moderately mixed, sp -1pts @ 2127 (intra high 2133). The two leaders - Trans/R2K, settled lower by -0.8% and -0.1% respectively. Near term outlook remains bullish into the next FOMC of June 17th... at which point the sp'2170s are viable.


sp'daily5

Dow

Trans

Summary

*notable new historic highs in the Dow (18351), and the sp'500 (2133).
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So, the broader market is still periodically breaking new historic highs. The laggard remains the Transports, which was especially notably today considering the significant net daily decline in WTIC Oil of -3.9% @ $57.99.

Best guess..  the Trans to break above declining resistance.. >8800, along with new Nasdaq making new historic highs >5132.
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Closing update from Riley


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a little more later..