Daily Index Cycle update

US equity indexes closed broadly higher for the third consecutive day, sp +25pts @ 2064. The two leaders - Trans/R2K, settled higher by 1.1% and 1.3% respectively. Near term outlook is bullish to the 2075/80 zone, with the 2100 threshold just about in range by year end.


sp'daily5

Trans

Summary

Suffice to add..  a rather bullish day, as it would seem the end year tax selling is essentially complete.

Whilst the sp'500 is leading the way higher, it is notable that the Transports has a very long way - some 9%, to make an attempt to re-take its 200dma.
--

Update from Riley


--
a little more later...