Closing Brief

US equities saw a very significant latter day recovery, from a morning low of sp'1891, settling +8pts @ 1929. The two leaders - Trans/R2K, settled -0.5% and +1.0% respectively. Near term outlook offers renewed upside to the 1950/60s... with threat of 2K by mid March.


sp'60min

Summary

*closing hour action: rather powerful upside into the close.. with a new intra high of 1932.

For the equity bears... simply nightmarish.
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Suffice to add.. it was just another day in the crazy casino... where early morning weakness - based on a truck load of negatives.. still saw the market swing powerfully higher into the afternoon.

For many.. this is understandably too stomach churning to watch, nevermind be part of.

It would seem we could see a break above the 50dma tomorrow...  and that opens up a weekly close in the 1960s.. even the 70s.

From there.. 2K becomes a basic target..... with a scary gap zone of 2038/43.. by mid March.


Q. Do you hear the clock ticking?

                                                        .. because I do.

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more later.. on the VIX