US equities are set for very significant net gains… although the Nasdaq has turned red today, as some of the Corona/stay-at-home stocks have been fiercely smashed lower. USD is +0.6% in the DXY 92.78s… but the m/t trend remains bearish.
sp’60min
VIX’60min
Summary
Well, regardless of the exact close, its been one hell of a bullish day, with new hist’ highs in the SPX, Nasdaq, Dow, and Trans. Broader price structure of a bullish pennant has been fully confirmed, and offers far higher levels.
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notable airline: UAL
Screaming higher with the sector… but the recovery in demand will still take a very considerable time. Maybe a black candle… but above the 200dma.
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notable shipper: CCL
For today, recent news of further suspensions… is being forgotten.
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notable financial: JPM
Breaking above the June low, on vain hopes the fed will be raising rates sooner than they claim.
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notable mining ETF: GDX, 60min
Yours truly remains long… but will be tempted to exit if 39.40s before the close, and re-long on any Tuesday cooling wave.
back at the close…