US equity indexes closed broadly higher, SPX +40pts (0.9%) at 4358. Nasdaq comp’ +1.4%. Dow +0.7%. The Transports settled +1.6%. R2K +2.7%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: a fifth day higher, printing 4373, and settling +0.9% to 4358. Today’s candle is a little spiky from just above the 50dma, and the 50% fib’ retrace. We’ve two basic downside gaps, with a basic retrace due to the 4260s.
NAS: a sixth day higher, settling +1.4% to 13478, notably above the 50dma. Next resistance is upper trend in the 13700s.
R2K: a fifth day higher, settling +2.7% to 174.43. Today’s candle is rather spiky on the upper side from just under the 50dma. S/t bearish.
Trans: a fifth day higher, settling +1.6% to 14512. Momentum has turned positive. I’d note the 50dma is due to death cross the 200dma next week in the 14800s.
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VIX’daily
VIX weekly
VIX was ground lower for a fifth consecutive day (an appropriate mirror to the SPX), settling -4.8% to 14.91. Daily momentum ticked lower for a fifth day, and is on the very low side.
For the week, the VIX declined by a rather monstrous -29.9%. Weekly momentum ticked back lower, if remaining on the high side.
Considering the high threat of a major escalation in the middle east, VIX 14s is a truly bizarre thing to see.
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a little more… by 6pm EST