Daily Index Cycle update

US equities closed moderately higher, sp +12pts @ 2122 (intra higher 2129). The two leaders - Trans/R2K, settled higher by 0.8% and 0.6% respectively. Price structure is a bearish wedge, offering renewed downside into end month... primary target are the 2060s, where there will be multiple aspects of support.


sp'daily5

R2K

Nasdaq comp'

Summary

*most notable aspect of the day, new historic highs in the R2K (1293) and the Nasdaq comp' (5162).
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Suffice to add... a day for the equity bulls... there is no sign of the current rally ending, although price structure on some indexes is a rather clear bearish wedge... offering a sig' break lower no later than Wed/Thursday.

At best, the equity bears look able to hit the sp'2060s by early July.. where the 200dma will be lurking.
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a little more later...