US equities closed broadly higher, sp +17pts @ 2013. The two leaders -
Trans/R2K, settled higher by 1.4% and 0.9% respectively. With a break
above the 2K threshold, near term outlook is for a straight run to the
2040/60 zone. The ultimate issue is whether the market can re-take the
monthly 10MA.
sp'daily5
Trans
Summary
A rather bullish day for the US equity market.. as another tranche of bears get short-stopped above the psy' level of sp'2000.
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Trans is obviously at declining resistance, but considering the other indexes..the Trans will probably battle upward.. to the 8450/8550 zone.
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a little more later...