US equity indexes closed very significantly higher, SPX +103pts (2.5%) at 4287. Nasdaq comp’ +3.1%. Dow +1.8%. The Transports settled +2.6%. R2K +1.8%.
sp’60min
Summary
closing hour action: a new intraday high of 4308, if cooling back a touch. Momentum settled on the very high side.
*awaiting earnings from AAPL, AMZN, INTC, ROKU, X, GILD, HOOD
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… and that concludes a very bullish Thursday. Whilst early gains were shaky, the buyers did appear, and we saw a pretty strong short-squeeze in a number of stocks, not least FB.
The s/t cyclical setup favours the bears, but it should result in just a higher low, ahead of next week’s FOMC.
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notable stock: COIN
A new historic low… if settling net positive.
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notable bond ETF: TLT
A day of chop, but m/t bearish, as the US 10yr remains headed to 3.00%
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notable bank: BAC
Banks higher with the main market. Cyclically low.
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Another day spent inside… the lack of sun didn’t help inspire me to venture out. Wherever you are… have a good evening
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more later on the VIX and Indexes by 6pm EST