Closing Brief

Despite an opening gap lower to sp'1809, the market reversed right from the open, clawing into the 1830s in the afternoon, and closing +10pts @ 1829. The two leaders - Trans/R2K, settled higher by 0.2% and 1.3% respectively. With a break >1826, target zone of 1800/1790 is...dropped.


sp'60min

Summary

For those trading this market without stops, today would have been real annoying.

A gap lower..only to battle back higher..into the 1830s.

Just reflect upon this... 7 trading days....93pts UP., that is a very significant 5.3%.
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I'm going to count the move from 1826/1809 as a sub'2. Regardless of whether you agree with that or not...the trend ain't down, and the weekly/monthly charts are offering new historic highs in March.
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more later..on the VIX, which failed to the hold the 14s.