US equity indexes closed significantly higher, sp +32pts at 2395. The two leaders - Trans/R2K, settled higher by 1.8% and 1.9% respectively. VIX settled -2.9% at 12.54. Near term outlook offers a weekly close in the low 2400s, with the 2500s within range this May/June.
Surprised, are you?
Yesterday's closing technical setup (short term) was on the low side. Even if this morning opened lower, the market would have seen some degree of latter day recovery.
Instead, the most bullish scenario occurred, with the sp'2400s and Dow 21000s.. levels that most thought insanely 'bold' just a few months ago.
Yet.. here we are..... with a super strong equity market... not just in the US.. but across much of the world.
Ohh, and the following skies are most appropriate for those still trying to short this market...
I could say a lot more... but for now. .that will suffice.
Goodnight from London
For those with an interest in the precious metals/miners...