US equity indexes closed on a positive note, SPX +29pts (0.7%) at 3963. Nasdaq comp’ +1.1%. Dow +0.5%. The Transports settled +0.3%. R2K +0.7%.
sp’60min
Summary
closing hour action: considerable minor chop. S/t price structure of a bear flag… intact. S/t momentum settled on the moderately high side.
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… and that concludes Thursday. A bullish day, but the gains weren’t anything for the bulls to get excited about.
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notable stock: COIN
Coinbase actually broke a new multi-year low today… if seeing a wave of ‘bargain buyers’ appear. Fair value is arguably <$10.00.
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notable bond ETF: TLT
Bonds a little lower, as yields rebounded.
Tomorrow’s PPI data will be important, and should remain ‘elevated’, as rates are on track to reach 5.0% in Q1.
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notable stock: BAC
A sixth consecutive net daily decline.
Yesterday’s hollow red reversal candle did play out… at least initially.
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The moon and Mars… around 7.30pm EST, when the temp in London is already -1c/30f. For the UK populace, things are starting to get real difficult. Have a good evening.
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more later on the VIX and Indexes by 6pm EST