Daily Index Cycle update

US indexes closed somewhat weak, sp -11pts @ 1985. The two leaders - Trans/R2K, settled u/c and -1.0% respectively. Near term outlook is for the sp'1973/70 zone, before resuming back upward.


sp'daily5

Dow

Summary

The bulls managed a strong climb from sp'1904 to 2011, whilst the best the bears seem likely to be able to do is a 38% retrace.. to the low 1970s.

New historic highs look likely in late Sept/early October.
--

Closing update from Riley



--
a little more later...