Daily Index Cycle update

US equity indexes closed the week with significant gains, sp +25pts @ 2076. The two leaders - Trans/R2K, settled higher by 1.8% and 1.4% respectively. Near term outlook is bullish into August, so long as the Greek banks reopen next week.. which should placate the angry populace for at least a few weeks.


sp'daily5

R2K

Trans

Summary

Little to add

The market laggard - Transports, looks set to battle upward into the 8500/600s. 9K looks out of range, no matter how strong the market might be in first half of August.

Sp'500 looks set for the 2110/20s... whether it can break new historic highs next month... difficult to say.
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Closing update from Riley



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a little more later...