US equity indexes mostly closed on a positive note, SPX +58pts (1.1%) at 5554. Nasdaq comp’ +2.2%. Dow +0.3%. The Transports settled -0.4%. R2K +0.3%
sp’60min
Summary
closing hour action: leaning upward to break a new intraday high of 5560. S/t momentum settled on the high side.
–
… and that concludes a Wednesday. It was a pretty wild day… an ugly morning, but a rather typical 11am bounce… but one that saw the SPX even turning significantly higher.
The s/t cyclical setup favours the bears… just as it did yesterday.
VIX structure offers a big bull flag, and it does threaten more drama, not least for a Thursday.
–
notable bond yield proxy: TNX
The US 10yr printing a new multi-year low of 3.614%
–
notable bond ETF: TLT
Long bonds breaking a new multi-year high, if cooling back.
–
notable bank: BAC
Despite the main market bounce, Bank of America settled lower for the fourth day of five.
–
Sunny, but 10c/50f was very chilly for what is only mid Sept’
Have a good evening
–
more later on the VIX and Indexes by 6pm EDT