US equity indexes closed very significantly higher, SPX +88pts (1.7%) at 5375. Nasdaq comp’ +2.5%. Dow +1.1%. The Transports settled +1.1%. R2K +1.6%
sp’60min
Summary
closing hour action: leaning weak to break a new intraday low of 5356. S/t momentum continued to weaken, settling on the moderately high side.
Awaiting earnings from $IBM $ALK $NOW $CMG $CCS $ORLY $NEM $TXN $LRCX $LVS
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… and that concludes a Wednesday. It was a second day for the bulls, as the 5700s with VIX 20s aren’t that far away. The s/t cyclical setup favours the bears, but any shorts are overly risky until we’re at least in the 5700s.
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notable bond yield proxy: TNX
The US 10yr printing 4.261%, but swinging upward to 4.399%
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notable bond ETF: TLT
Another black candle… leans s/t bearish.
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notable crypto: Bitcoin
Choppy day. Upside target/resistance 99/psy’100K
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Have a good evening
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more later on the VIX and Indexes by 6pm EDT