US equity indexes mostly closed very significantly higher, SPX +64pts (1.4%) at 4577. Nasdaq comp' +0.8%. Dow +1.8%. The Transports settled +2.9%. R2K +2.8%.
SPX - daily5
VIX - daily3
Summary
US equities opened choppy, with the SPX printing a new cycle low of 4504, but from there... a rather powerful upside reversal to 4592, and settling at 4577. The fact neither Powell or Fauci were 'on the loose', was a distinct help.
Volatility was ground back lower, the VIX settling -10.2% to 27.95. Bulls need to clear Wednesday's high of 4652, until then... we do not yet have a decisive floor.
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Goodnight
from London
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