US equity indexes closed very significantly higher, SPX +94pts (2.6%) at 3677. Nasdaq comp’ +3.4%. Dow +1.9%. The Transports settled +2.4%. R2K +3.2%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening significantly higher, and powering to 3689. From around 10.15am… broad chop, with a secondary print of 3689, and a touch of cooling to settle +2.6% to 3677. Momentum ticked upward, and is marginally positive.
Resistance… 3712, 3806, and I’d note the upper bollinger 3842, which will soon be a wall in the low 3700s.
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NAS: settling +3.4% to 10675. Momentum has turned positive.
R2K: settling +3.2% to 172.15. S/t price action remains choppy. Absolutely m/t bearish unless >200.
Trans: settling +2.4% to 12802. Bulls need >13k for confidence.
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VIX’daily
Volatility cooled, if remaining elevated, the VIX settling -2.0% to 31.37. Momentum ticked lower, settling marginally negative. I’d note the lower bollinger at 26.99, and that will soon offer support around 30.
There is no reason to expect the VIX to be sustainably lower, on this side of the midterms.
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Looking ahead by 6pm EST