US equity indexes closed broadly higher, SPX +32pts (0.9%) at 3699. Nasdaq comp’ +0.7%. Dow +0.8%. The Transports settled +1.2%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening a little higher, with considerable chop into the late afternoon. The closing hour saw a mini ramp to break a new historic high, settling +32pts (0.9%) to 3699. Upper bollinger is offering the low 3700s. First major support is around 3500… now around 200pts lower!
NAS: the third day higher of five, breaking a new historic high, settling +87pts (0.7%) to 12464. RSI 70 is the highest since early September, when a large chunk of the market maxed out.
Trans: a fourth consecutive net daily gain, settling +155pts (1.2%) to 12742. Upper bollinger is offering new hist’ highs within 12900/13000 next week.
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VIX’daily3
VIX weekly
Volatility was naturally subdued into the weekend, the VIX settling -2.3% to 20.79. The daily chart print of 19.97 was in pre-market, as for now… the key 20 threshold is still holding.
VIX cooled for the fourth week of five, net lower by -0.2%. Any daily closes <20 would offer the 17s. There is little reason to expect VIX back above the weekly 10MA (25s) in the remainder of the year.
As ever… the one wild card is the election, whose result is yet to be finalised.
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a little more… by 6pm EST