US equity indexes closed rather powerfully higher, SPX +122pts (3.1%) at 4080. Nasdaq comp’ +4.4%. Dow +2.2%. The Transports settled +1.9%. R2K +2.7%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: morning weakness to 3938, but a powerful upside reversal to settle +3.1% to 4080. Momentum was negative in the morning, but settled to tick back upward… remaining marginally positive.
Green gap tagged… with today’s close the first above the 200dma since April 7th. Next resistance is around 4100. Beyond that… its open air to the upper weekly bollinger in the 4330s.
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NAS: settling +4.4% to 11468. S/t bulls could seek the 200dma within green gap… around 12K.
R2K: swinging from 180.79 to settle +2.7% to 187.39. Today’s candle is bullish engulfing, and offers a break >190. Momentum is due to turn positive on Thursday.
Trans: a low of 14024, but settling +1.9% to 14698. Today’s candle is bullish engulfing, and offers 15k within 1-4 days. Momentum is due to turn positive on Thursday.
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VIX’daily
Volatility was mixed, the VIX printing 22.63, but settling -6.0% to 20.58. Today’s candle is bearish engulfing, and leans s/t bearish VIX and by default… s/t bullish equities. I’d note legacy red gap of 20/19s, which is clearly viable before the weekend.
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A special post to wrap up the month… by 6pm EST