US equity indexes closed very significantly higher, SPX +90pts (2.4%) at 3901. Nasdaq comp’ +3.0%. Dow +1.9%. The Transports settled +2.1%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening significantly higher, and pushing to 3114 in the mid afternoon. The closing hour saw a little cooling to settle +90pts (2.4%) to 3901. Today’s candle is subtly spiky from overhead s/t declining trend. Whilst the bears can argue for a tag of today’s opening gap, new hist’ highs >3950 appear due within 1-2 weeks.
NAS: a second consecutive net daily gain, settling +396pts (3.0%) to 13588. Friday’s black candle failed to play out. At the current rate, momentum will turn positive this Thurs/Friday.
Trans: settling +287pts (2.1%) to 13681… just shy of a new hist’ high. Upper bollinger is offering the 13700s in the immediate term.
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VIX’daily3
With equities very significantly higher, volatility was ground lower, the VIX settling -16.5% to 23.35. Momentum ticked lower, and is due to turn negative within 2-3 days. A weekly settlement under the key 20 threshold would offer extra confidence that SPX psy’ 4K will be tested.. and broken above this month.
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Looking ahead by 6pm EST