Daily Index Cycle update

Equity indexes reversed from the open, with the sp' quickly recovering from a very brief..and fractional break of the 50 day MA of 1810, closing +10pts @ 1829. The two leaders - Trans/R2K, settled higher by 0.2% and 1.3% respectively.


sp'daily5

R2K

Trans

Summary

What to say about today's nonsense?

The gap lower was kinda interesting, but there just wasn't any significant power behind it, and with the daily/weekly cycles all pushing upward, the bears got ground down across the day.

Equity bulls should be especially impressed with the markets resilience, since it was another QE-less day.
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Closing update from Mr TopStep



a little more later...