US equity indexes closed very significantly higher, SPX +75pts (1.7%) at 5713. Nasdaq comp’ +2.5%. Dow +1.3%. The Transports settled +1.6%. R2K +2.1%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new hist’ high of 5733, if cooling back to settle +1.7% to 5713. Wednesday’s bearish engulfing candle failed to play out. Daily momentum accelerated upward, and is on the moderately high side.
NAS: settling +2.5% to 18013. Wednesday’s bearish engulfing candle failed to play out.
R2K: a seventh consecutive net daily gain, settling +2.1% to 223.97. Today’s candle is black, and leans s/t bearish… if only part of Friday.
Trans: a sixth day higher, settling +1.6% to 16331. Today’s print of 16413 was the highest since Aug’2023. Today’s candle is rather spiky on the upper side, and is indicative of tired bulls. Bullish >16800. Bearish <15K
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VIX’daily
Volatility was naturally ground lower, the VIX settling -10.4% to 16.33. Momentum ticked back lower, and remains marginally negative. Even if the SPX cools to 5650 on Friday, VIX will settle the week under the key 20 threshold. The concern to equity bulls should be a ‘weekend surprise’.
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Looking ahead by 6pm EDT