Daily Index Cycle update

US equities closed moderately mixed, sp +1pt @ 2124 (intra low 2119). The two leaders - Trans/R2K, settled -0.1% and +0.3% respectively. Price action remains increasingly tight, and near term outlook is for renewed weakness into end month. Best downside case remains the sp'2060s.


sp'daily5

R2K

Nasdaq comp'

Summary

*notable (if fractional) new historic highs in the R2K (1296), and the Nasdaq comp (5163).
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Suffice to add... further gains for the US equity market... with Transports (as usual) lagging.

Underlying MACD (blue bar histogram) cycle is a little on the high side for most indexes.... market will struggle to push much above sp'2130 in the immediate term.
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a little more later...