Daily Index Cycle update

US equity indexes closed significantly higher, sp +25pts @ 2105. The two leaders - Trans/R2K, settled higher by 0.7% and 1.4% respectively. Near term outlook has turned bullish, with a cycle low of 2072. Further upside into the FOMC of June 17th look due.. if not somewhat beyond to the 2150/70s.


sp'daily5

Dow

Trans

Summary

*Transports remains a clear laggard, I sure don't expect new historic highs in this index for some months.. if not until next year.
--

Little to add.

A pretty strong day for the equity bears, not least for the headline indexes of sp'500, Dow, and Nasdaq comp'

--
a little more later...