Daily Index Cycle update

US equity indexes closed moderately mixed, sp +2pts @ 2089 (intra low 2070). The two leaders - Trans/R2K, settled -0.6% and +0.7% respectively. Near term outlook is for renewed upside into the 2100s... and to new historic highs >2134.


sp'daily5

Trans

Summary

*airlines were under distinct pressure.. partly due to geo-political issues, but also arguably due to higher oil prices.
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As for the sp'500, the 2100s look due within the next 1-3 trading days. The only issue is whether the November monthly close is a little above... or below the sp'2100 threshold.

Right now.. the underlying pressure is unquestionably toward the upside.

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a little more later..