US equity indexes closed very significantly higher, SPX +79pts (1.9%) at 4317. Nasdaq comp’ +1.8%. Dow +1.7%. The Transports settled +1.9%. R2K 2.7%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a fourth day higher, settling +1.9% to 4317. Momentum has turned positive. I’d note the 50dma at 4348.
NAS: a fifth day higher, settling +1.8% to 13294. Momentum has turned positive. Next resistance is the 50dma 13424, and I’d note overhead trend 13700s.
R2K: a fourth day higher, settling +2.7% to 169.89. Momentum has turned positive.
Trans: a fourth day higher, settling +1.9% to 14285. Momentum due to turn positive on Friday.
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VIX’daily
Volatility was ground lower, the VIX settling -7.2% at 15.66. Momentum ticked lower for a fourth day, and is on the very low side. On any basis, the VIX is bizarrely low, not least relative to the threat of a major escalation in the middle east.
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Looking ahead by 6pm EST