Daily Index Cycle update

US equities closed moderately higher sp +15pts @ 2021. The two leaders - Trans/R2K, settled higher by 0.7% and 0.6% respectively. Near term outlook is for seasonal upside, at least to 2050/60s, but an attempt to close the year in the 2100s remains very viable.


sp'daily5

Trans

Summary

A short term double floor of sp'2005 looks in place. First soft target are the 50/200 day MA's in the sp'2060s... and then the resistance zone of 2075/80.

There are just 6.5 trading days left of the year, but a year end close in the sp'2100s remains very viable.
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Update from Riley


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a little more later...