Daily Index Cycle update

US equities saw a second day of gains, sp +29pts @ 2050. The two leaders - Trans/R2K, settled higher by a rather significant 1.5% and 1.8% respectively. Near term outlook remains highly uncertain, whilst market remains under key resistance of 2064.


sp'daily5

Dow

Summary

Little to add.

A second consecutive day of gains, and the daily close above the 50dma for the Dow and sp'500 is rather bullish..

All that is left now is the resistance at sp'2064. A weekly close above that.. and it will negate all the recent choppy weakness. Bears... beware.
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Closing update from Riley


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a little more later...