Daily Index Cycle update

US equities closed broadly higher, sp +15pts @ 2108. The two leaders - Trans/R2K, settled higher by 1.7% and 0.5% respectively. Near term outlook is mixed, with the hourly cycles offering a down wave across Thurs/Friday, but the daily close >sp'2100 (where the 50dma is lurking) is a rather bullish signal for early August.


sp'daily5

Trans

Summary

*the market laggard - Trans, has seen a rather decisive break above declining resistance/trend. Right now, it the most bullish break of trend that I'm aware of.
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The sp'500 close above the 2100 threshold.. and the 50dma was particularly bullish, and offers broader upside into August.
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a little more later...