Daily Index Cycle update

US equities closed significantly higher for the second consecutive day, sp +22pts @ 2075 (intra high 2079). The two leaders - Trans/R2K, settled higher by 0.7% and 0.9% respectively. Near term outlook is for further upside into the next FOMC of Oct'28th, before next opportunity of an equity retrace.


sp'daily5

Dow

Nasdaq comp'

Summary

The sp'500, Dow, and Nasdaq, have all seen rather decisive weekly closes above the 200dma... which is unquestionably, a particularly bullish technical signal.
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Closing update from Riley


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a little more later...