US equities closed significantly higher, sp +27pts @ 1945. The two leaders - Trans/R2K, settled higher by 1.8% and 1.2% respectively. Near term outlook is for further upside to the 1950/65 zone. From there, threat of cooling into end month, before resuming higher across first half of March to around sp'2K.
*closing hour action: micro chop... leaning on the upside.
A pretty bullish start to the week, and clearly.. equity bears continue to get ground out of this market as the mainstream are starting to get some confident again that 'everything is gonna be just fine'.
Of course, everything is far from okay.
Just reflect on the mood 7/8 days ago... rumours of DB, talk of Oil <$20, and looming bankruptcies in the oil/gas/mining sector.
All such things remain due. Nothing has changed.
more later... on the VIX