Monday 20 March 2023

Starting broadly positive

US equity indexes mostly closed higher, SPX +34pts (0.9%) at 3951. Nasdaq comp' +0.4%. Dow +1.2%. The Transports settled -0.1%. R2K +1.3%.

SPX - daily

VIX - daily


Equities opened in minor chop mode, but did lean upward into late morning, the SPX printing 3956, with a cooling wave to 3923. The afternoon saw further chop, if leaning on the upward side.

Volatility was mixed, the VIX printing (cash market) high of 26.43, if cooling back to settle -5.3% to 24.15. 

The cyclical setup favours the equity bulls to SPX 4000/4030 with VIX 22/21s. 



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