Closing Brief

US equity indexes closed broadly higher, sp +6pts @ 1993. The two leaders - Trans/R2K, settled higher by 1.1% and 1.0% respectively. Near term outlook offers the sp'2K threshold for 'jobs Friday', with the 2020/40 zone viable by the next FOMC of March 16th.


sp'60min

Summary

Closing hour action: further micro chop, but breaking a new cycle high of 1993.
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Another day for the bull maniacs, as equity bears remain utterly powerless.

I realise some might see tomorrow as an excuse for a significant retrace lower, but the 2K threshold looks due.. and it could easily cascade into next week to the 2020/40 zone.

Indeed, the weekly MACD cycles are set to see a bullish cross... as early as tomorrow, or the Monday open.

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more later... on the VIX