Closing Brief

US equity indexes closed significantly higher, sp +21pts @ 1951 (intra low 1925). The two leaders - Trans/R2K, settled higher by 1.1% and 0.9% respectively. Near term outlook offers a weekly close in the 1965/75 zone, and that will continue a short-stop cascade all the way to the psy' level of sp'2K.


sp'60min

Summary

*closing hour action: a clear break above the 50dma of 1945...
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So... a second consecutive net daily gain... and its notable that we've already battled 3% higher from the Wed' morning low of 1891.

Next target is the psy' level of 2K...  with the 200dma in the 2025/30 zone... by mid March.

From there... reality should dawn once more that 'everything' is not fine.
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For those resolutely holding short... here is some disturbingly scary music...



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more later... on the VIX