US equity indexes mostly closed on a positive note, SPX +58pts (1.1%) at 5554. Nasdaq comp’ +2.2%. Dow +0.3%. The Transports settled -0.4%. R2K +0.3%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening broadly flat, but spiraling to 5406. There was a natural turn from 11am, and it just kept climbing to 5560, and settling +1.1% to 5554. Today’s candle is bullish engulfing.
Things only turn interesting for the bears <5500
I’d accept the 5350s look a real stretch before the weekend.
–
NAS: a low of 16787, but settling +2.2% to 17395. Today’s candle is bullish engulfing.
R2K: a low of 204.21, but settling +0.3% to 208.89. Today’s candle is bullish engulfing.
Trans: printing 15227, but recovering to settle -0.4% to 15550. Today’s candle isn’t a hollow red reversal, but the candle has a pretty powerful spike floor, and leans net bullish.
–
VIX’daily
Volatility was very mixed, the VIX spiking to 21.41, but cooling back to settle -7.3% to 17.69. Momentum ticked lower for a third day, if still marginally positive.
Structure (across the past six days) IS a bull flag, and I have to wonder if Mr Market will whipsaw everyone much like Wednesday.
–
Looking ahead by 6pm EDT