Tuesday 21 March 2023

Ahead of the Fed

US equity indexes closed significantly higher, SPX +51pts (1.3%) at 4002. Nasdaq comp' +1.6%. Dow +1.0%. The Transports settled +1.7%. R2K +1.9%.

SPX - daily

VIX - daily

Summary

US equities opened broadly higher, especially helped by European markets. The SPX pushed to 3998, if cooling back to 3971. The afternoon saw a secondary push upward, printing 4009, and settling at 4002.

Volatility was ground lower, the VIX settling -11.5% to 21.38.

Wednesday will see rate hike nine, as the daily cyclical setup favours the bulls.
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The first full day of spring

... construction is planned to continue across some years.

Next up... floor 13

A bearable spring day
 
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