Daily Index Cycle update

US equity indexes closed moderately mixed, sp +1pt @ 2001 (intra high 2006). The two leaders - Trans/R2K, settled higher by 0.4% and 1.1% respectively. Near term outlook is for further chop, but leaning on the upside. Next target is the 200dma of sp'2022, with the 2030/40 zone more viable next week.


sp'daily5

Dow

Summary

*A notable fifth consecutive net daily gain for the sp'500, the best run since Dec'2014.
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Suffice to add, most indexes look set to test their respective 200dmas. With the FOMC next Wedneday, there is viable upside to the gap zone of sp'2038/43.. before the rally from 1810 maxes out.

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a little more later...