Bullish Thursday

US equity indexes closed a little mixed, sp -1pt at 2926. Dow -0.5%. Nasdaq comp' +0.2%. Near term outlook favours the bulls into the weekend and end month.

sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, and took a moderate swing lower. The SPX saw a floor of 2912, and that was all the bears could manage, with the market battling back upward into the afternoon.

It was a bullish Thursday as the Nasdaq comp' did break another new historic high. The other indexes can be expected to follow in the days and weeks ahead. Volatility saw a morning high of 14.30, before melting back, settling +0.8% at 13.25. The s/t cyclical outlook will favour the equity bulls into the weekend.
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Luscious spring green

Bullish spring sunshine

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Nasdaq leading the way

US equity indexes closed a little mixed, sp -6pts (0.2%) at 2927. Nasdaq comp' -0.2%. Dow -0.2%. The two leaders - Trans/R2K, settled +0.9% and +0.2% respectively.

sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, but it was still enough for the Nasdaq comp' to break a new historic high of 8139. The SPX broke a fractional new multi-month high of 2936.83, before taking a moderate swing lower into late afternoon.

Volatility picked up a little, with the VIX settling +7.0% at 13.14. The s/t cyclical setup for Thursday does favour the equity bears, but I'm not really expecting anything particularly significant.


Nasdaq, monthly, 12yr

With the Nasdaq breaking a new historic high, the other indexes can be expected to follow in the days and weeks ahead.
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New cycle highs

US equity indexes closed broadly higher, sp +25pts (0.9%) at 2933. Dow +0.5%. Nasdaq comp' +1.3%. The two leaders - Trans/R2K, settled +0.2% and +1.6% respectively.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, with the market inspired by better than expected earnings from a broad array of companies.

The SPX broke a new multi-month intraday high of 2936, and settling with a new historic closing high of 2933. Volatility was naturally subdued, with the VIX settling -1.1% at 12.28.

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