US equity indexes closed significantly higher, SPX +53pts (1.2%) at 4425. Nasdaq comp’ +1.1%. Dow +1.3%. The Transports settled +1.6%. R2K +0.9%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a sixth day higher, breaking a new multi-month high of 4439, and settling +1.2% to 4425. Momentum ticked upward, and is on the high side. RSI 76s, the highest since Nov’2021.
NAS: a sixth day higher, breaking a new multi-month high of 13828, settling +1.1% to 13782. Next resistance is the March 2022 high of 14646.
R2K: an early low of 184.91, but swinging upward to settle +0.9% to 187.50… as the 10MA holds as first support. Next upside resistance are the recent 189s.
Trans: a fourth day higher, settling +1.6% to 14869. RSI 67s the highest since early Feb’.
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VIX’daily
Volatility picked up a little, the VIX settling +4.5% to 14.50. Momentum ticked higher for a fifth day. Its arguable the algos know the market is increasingly vulnerable to a break lower, and they aren’t willing to price options any lower.
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Looking ahead by 6pm EST