US equities opened broadly lower, but there was a rather clear reversal underway within minutes. There just aren't many willing sellers at these levels. The sp' daily candle was a classic hollow red reversal.. managing to close above the key 50dma. Its a rather bullish sign.
VIX saw a pre-market print of 15.11, but only managed 14.82 in early trading, and was then ground lower across the day. For much of the day, the daily candle was of the black-fail type, but even managed to turn outright red. The volatility bulls really should be concerned!
On balance.. the market looks prone to battling upward into late April/early May.
This evening's movie...
|Mr Fuzzy Bear is always watching - The Wolf of Wall Street (2013).|
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Goodnight from London