US equity indexes closed significantly higher, SPX +56pts (1.5%) at 3878. Nasdaq comp’ +1.5%. Dow +1.6%. The Transports settled +1.3%. R2K +1.7%.
sp’60min
Summary
closing hour action: a little chop… leaning a touch higher, as s/t momentum is ticking lower.
*awaiting earnings from MU
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… and that concludes Wednesday. It was a day for the bulls. Thursday will inherently favour the bears, and we do have a downside gap that might be tagged. Regardless… upside teal gap to the 3950s is due… if not until after Christmas.
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notable eurotrash: DB
Someone picked up a truckload of the Jan $11 PUTS yesterday. Were I buying, I’d want more time on the clock, at least Feb’, preferably March.
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notable bond ETF: TLT
A little chop for bonds. I’d accept the bond bulls could argue structure is a multi-week bull flag, but that’d arguably need the SPX break >4100, and that doesn’t look likely.
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notable bank: BAC
A third day higher. S/t bullish into next week.
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Not exactly inspiring, as winter is due to officially begin at 4.48pm EST.
Have a good evening
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more later on the VIX and Indexes by 6pm EST