US equity indexes closed monstrously higher, SPX +474pts (9.5%) at 5456. Nasdaq comp’ +12.2%. Dow +7.9%. The Transports settled +10.1%. R2K +8.5%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: early weakness to 4948, but swinging upward by a MONSTROUS 533pts to 5481, and settling +9.5% to 5456. Today’s candle is bullish engulfing.
Daily momentum has started to tick back upward, at the current rate will turn positive on Friday, and should carry upward across next week.
I would note the intersecting 200 and 50dma… 5755 & 5790 respectively.
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NAS: a monstrous ramp… settling +12.2% to 17124. Today’s candle is borderline bullish engulfing.
R2K: early weakness to the 171s, but a monstrous ramp to settle +8.5% to 189.70. Today’s candle is bullish engulfing.
Trans: early weakness to 12505, but a monstrous ramp to settle +10.1% to 13913. Today’s candle is bullish engulfing. Next target is green gap.
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VIX’daily
Volatility saw an early high of 52.56, but with the tariff news, VIX was crushed… printing 31.90, and settling -35.7% to 33.62. Today’s candle is bearish engulfing, an appropriate mirror to the SPX
Daily momentum has started to tick back lower, and will be prone to turning negative next Mon/Tues’. A broader decline to the key 20 threshold is an eventuality.
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Looking ahead by 6pm EDT