US equity indexes closed significantly higher, SPX +105pts (2.4%) at 4431. Nasdaq comp’ +3.1%. Dow +1.7%. The Transports settled +1.6%. R2K +1.9%.
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: a morning low of 4292, but powering upward in the late afternoon to settle +105pts (2.4%) to 4431. Today’s candle is bullish engulfing, and leans s/t bullish, if only early Monday. I’d note today’s settlement was just below the 200dma, with the 10MA due to cross under it on Monday. Bulls need >4470 to be decisive.
NAS: printing 13236, but swinging upward to settle +3.1% to 13770. Today’s candle is bullish engulfing, and leans s/t bullish, if only early Monday. I’d note the 10MA in the 13900s, as the bulls need >14k to have confidence a s/t floor is in.
R2K: printing a new cycle low of 188.09, but settling +1.9% to 195.21. Still s/t broken, under the 10MA of the 200s.
Trans: printing a new cycle low of 14567, but settling +1.6% to 15048. Still broken… whilst under the 10MA.
–
VIX’daily
VIX weekly
With equities climbing into the weekend, volatility was ground lower, the VIX settling -9.3% to 27.66. Momentum ticked lower for a second day, and remains on the high side.
For the week, the VIX declined by -4.1% . This week’s candle is very spiky, and indicative of s/t (equity bear) exhaustion. Momentum still ticked upward, settling on the marginally positive side.
–
a little more… by 6pm EST