Closing Brief

US equity indexes closed with very strong gains, sp +28pts @ 1873. The two leaders - Trans/R2K, climbed with powerful gains of 2.2% and 2.7% respectively. Near term outlook is bullish, the only unknown now is how the market will interpret the next monthly jobs data.


sp'60min

Summary

We have seen not only a claw back of the Monday declines..but breaking new highs in 4 of the 6 main indexes that I regularly highlight.

Incredible..but (at least to me)..not entirely unexpected. 

Tomorrow will probably see further gains into the afternoon, but then there is moderate risk of a brief pull back..if only 1%.

Primary upside target zone remains 1880/1920.
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more later...on the VIX.