Daily Index Cycle update

US equities closed moderately higher, sp +7pts @ 2089 (intra high 2097). The two leaders - Trans/R2K, settled higher by 0.3% and 0.7% respectively. Near term outlook offers threat of a sporadic minor retrace, but broadly, new historic highs in some indexes look probable before year end.


sp'daily5

Nasdaq comp'

Summary

*it is notable that the Nasdaq is very close - just over 2%, from breaking the July 20th' high of 5231.
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The sp' looks set for the 2100s before end month... with new historic highs before year end... even if the Fed raise rates.

Sustained action under the 2000 threshold looks unlikely for a very considerable time.
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a little more later..