Daily Index Cycle update

US equities closed moderately weak, sp -4pts @ 2126. The two leaders - Trans/R2K, settled lower by -0.8% and -0.4% respectively. Near term outlook remains broadly bullish into the next FOMC of June 17th.


sp'daily5

Nasdaq comp'

Trans

Summary

*Trans was again notably weak today, breaking a new cycle low of 8452 - the lowest level since mid Oct'.
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In contrast to the Trans, it was a week where the Dow/Sp'500 broke new historic highs of 18351 and 2134 respectively. On any basis...  a week for the equity bulls, as reflected in a VIX that can't even hold the low teens.
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Closing update from Riley



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a little more later...