US equity indexes closed rather mixed, SPX +2pts (0.03%) at 6915. Nasdaq comp’ +0.3%. Dow -0.6%. The Transports settled -1.4%. R2K -1.8%
sp’60min
Summary
closing hour action: micro chop. S/t structure is a bullish pennant.
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… and that concludes the short week. Whilst the s/t cyclical setup favours the bears, the bigger daily cycles are swinging back toward the bulls, especially from Tuesday onward.
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notable bond yield proxy: TNX
Yields a little lower.
… with a FOMC next week. I do NOT expect any rate cuts until after Powell has left in May.
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notable bond ETF: TLT
Long bonds higher for a third day, but broadly… its all chop
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notable crypto: Bitcoin
$87K is likely a s/t floor.
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Have a good evening
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More later on the VIX and Indexes, by 6pm EST