US equity indexes closed very significantly higher, SPX +65pts (1.7%) at 3974. Nasdaq comp' +1.2%. Dow +1.4%. The Transports settled +2.3%.
SPX - daily5
VIX - daily3
Summary
US equities began the day on a moderately positive note, with the SPX pushing above upper s/t declining trend of 3925... and provisionally confirming broader price structure of a bull flag.
Meanwhile...
US Trans-Sec' Buttigieg was on clown finance TV touting a new tax based on miles driven, rather than just increasing the current gasoline tax. Whilst that makes some sense - with the move from ICE to EV, there is arguably a much darker reason... that of tracking people. After all, if its a mileage tax, then all vehicles are going to have to 'report to base' daily/weekly/monthly/yearly miles driven.
I'd doubt the Govt' would have people manually submit the data. No... it'll be via some kind of wireless system, with all vehicles mandated to be monitored/tracked 24/7/365.
So... for those of you looking forward to a communist/totalitarian state... we're firmly on track.
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The afternoon saw considerable chop, but leaning rather strongly upward in the closing hour to break a new intraday high of 3978... a mere 22pts from giant psy' 4K.
Volatility was ground lower, the VIX settling -4.8% to 18.86... a key weekly settlement under the 20 threshold.
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| 6c/43f, a very chilly spring evening |
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| Full moon... March 28th |
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Extra charts in AH (usually around 5pm EST) @
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Goodnight
from London
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