US equity indexes closed broadly higher, SPX +40pts (0.9%) at 4339. Nasdaq comp’ +1.5%. Dow +0.6%. The Transports settled +0.4%. R2K +0.4%
sp’60min
Summary
closing hour action: leaning upward to break a new multi-month high of 4340. S/t momentum ticked upward, settling marginally positive.
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… and that concludes a Monday. Choppy, if leaning upward across the day. Equities are s/t cyclically high, but so is the VIX. Best guess… Tuesday opens positive, but takes an overdue swing lower. Basic target is purple gap of the 4240/20s.
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notable bond yield proxy: TNX
A choppy day for bond yields… if leaning upward ahead of CPI.
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notable banking ETF: KRE
A third day lower. S/t double top from the $44s.
A ‘do nothing’ Fed this Wednesday won’t help.
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notable stock: BAC
Bearish engulfing candle.
Again… no rate hike is BEARISH the fins.
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… as close as I came to venturing outside. Have a good evening
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more later on the VIX and Indexes by 6pm EST