US equity indexes mostly closed very significantly higher, sp +74pts (2.2%) at 3443. Nasdaq comp’ +3.8%. Dow +1.3%. The Transports settled -1.5%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening very significantly higher, and battling to 3486. The afternoon saw some distinct cooling to 3442, and settling +74pts (2.2%) to 3443. Today’s candle is very spiky, and leans a little bearish, at least for part of Thursday. Momentum is set to turn positive within 1-2 days, and bodes for new historic highs by early/mid December.
NAS: a third day higher, settling +430pts (3.8%) to 11590. New hist’ highs appear a given before end month.
Trans: settling -168pts (1.5%) to 11391, notably below the 10 and 50dma. S/t bearish… at least for part of Thursday.
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VIX’daily3
With equities seeing post election gains, volatility collapsed, the VIX printing 28.03, and settling -16.8% to 29.57. Daily momentum is set to turn negative at the Thursday open.
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Looking ahead by 6pm EST