US equity indexes mostly closed significantly higher, SPX +59pts (1.6%) at 3773. Nasdaq comp’ +2.5%. Dow +0.8%. The Transports settled +1.3%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening on a positive note, with some initial cooling from 3755>3725, resuming upward to 3784 in the 2pm hour, and settling +59pts (1.6%) to 3773. The s/t cyclical setup threatens some cooling, before another wave higher to around 3800. A broader washout to 3600/3580 appears on the menu.
NAS: settling +332pts (2.5%) to 12403. Broader downside to 12100/11900 zone is probable.
Trans: settling +162pts (1.3%) to 12250. Broader downside to 11000/10900s appears due.
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VIX’daily3
A mixed day for the VIX, cooling to 29.03, and settling -8.6% to 30.24. The s/t setup offers a spike, before resumed cooling toward orange gap. Its arguable that SPX 3600/3580 would equate to VIX testing the recent highs of the 41s to the 44s.
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Looking ahead by 6pm EST