Daily Index Cycle update

US equity indexes closed significantly higher, sp +22pts @ 2102. The two leaders - Trans/R2K, settled higher by 1.3% and 0.5% respectively. Near term outlook offers the sp'2115/20 zone, with a broader target of 2150/70 by year end.


sp'daily5

Trans

Summary

*first target for the 'old leader' - Trans, remains the 200dma, currently @ 8384.
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The sp'500 looks on track for the 2115/20 zone... where there are multiple aspects of resistance.

Any sustained trading >2120 would offer a straight run to 2150/70 by the next FOMC.
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a little more later...