US equity indexes closed significantly higher, SPX +56pts (1.0%) at 5633. Nasdaq comp’ +1.2%. Dow +1.1%. The Transports settled +0.7%. R2K +1.0%
sp’60min
Summary
closing hour action: micro chop, if still melting upward to print a new hist’ high of 5635. S/t momentum accelerated upward, settling moderately positive.
*awaiting earnings from $WDFC $PSMT $AZZ $ETWO
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… and that concludes a Wednesday. It was yet another day for the equity bulls, with the SPX pushing into the 5600s. The s/t cyclical setup arguably favours the bears, but I’d guess the CPI will be seen as ‘fine’.
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notable bond yield proxy: TNX
Yields leaning weak… ahead of CPI-Thursday.
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notable bond ETF: TLT
Lower yields > higher bonds.
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notable banking ETF: KRE
Yesterday’s bullish engulfing candle played out.
A Sept’ rate cut sure would help the regional banks.
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The parakeets blend in pretty well. Have a good evening
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more later on the VIX and Indexes by 6pm EDT