US equity indexes mostly closed broadly higher, SPX +31pts (0.5%) at 5948. Nasdaq comp’ +0.03%. Dow +1.4%. The Transports settled +0.8%. R2K +1.5%
sp’60min
Summary
closing hour action: minor chop, leaning a touch weak. S/t momentum is offering a provisional rollover, having settled on the moderately high side.
Awaiting earnings from $INTU $ESTC $GAP $ROST $NTAP $CPRT $UGI $MATW $NGVC
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… and that concludes a Thursday. The early downside reversal was ugly, but the buyers appeared (if less so in tech). S/t structure is a big bearish pennant. The s/t cyclical setup favours the bears for Friday.
Either we’re going to see a major smackdown within 1-2 days, or we’re going to break upward to new hist’ highs. I lean to the former.
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notable bond yield proxy: TNX
The US 10yr leaning upward to 4.434%
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notable bond ETF: TLT
Higher yields > lower bonds
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notable stock: COIN
The bitcoin stocks started strong, but all saw a rather powerful reversal.
Momo due to turn negative next Monday.
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… some six hours ago, as we’ve just a month until winter solstice.
Have a good evening
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more later on the VIX and Indexes by 6pm EST