Daily Index Cycle update

US equities closed significantly higher, sp +27pts @ 1951 (intra low 1893). The two leaders - Trans/R2K, settled higher by 0.5% and 1.5% respectively. Near term outlook is borderline, with the market at soft resistance in the sp'1950s. Any sustained action >1950, will open up a straight run to the 200dma in the 2050/40s.

sp'daily5

R2K

Trans

Summary

The closing daily candles for Friday are all of the spike-floor variety.. bullish engulfing type... and bode for further upside next Monday.

Broadly of course, the market IS broken - as seen on the bigger weekly/monthly cycles, and lower lows look due in the months ahead.

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a little more later...