Short Term Trading Week Starting: 26 Mar, page-107

US Market Closing Update

Dow up 669.41 points or +2.84% and S&P up 70.29 points or +2.72%. ES had a 60 handle run, much of it taking place during the cash session. SPX touched but ended just shy of the 2660 resistance area.

The US Dollar is sitting at 89.050 support after and -.43% on the day.

VIX took a beating and closed down -15.44%.

SPX/ES/SPY: 2658.55/2659/265.11
The bulls got their bounce and those short-in-the-hole got chased all day long. A declining 5 day moving average is now in play. Bulls hope to get the index solidly over 2650 tomorrow.

Market Internals
Advance-Decline Lines:+1537. NYSE Breadth: +6.51:1, NASDAQ Breadth: +5.64:1. NYSE TICK: Cumulative TICK trended weakly positive after 15:30 . TRIN: .51

NYSE MOC: ended -156M and stayed about -450M in the last 20 minutes of trade. NYSE composite volume was above average and slightly lower than Friday.

Implied Volatility
VXJ8:19.30, VXK8:18.64, VIX:21.03

Debt/Bond/Treasury
ZNM8 down -.16%. The 2 (2.29%) and 5 year (2.64%) debt was weak relative to the 30 year bond (3.07%). A 30Bn 2-year note auction saw an average bid-to-cover ratio. The 10 Year yield is now about 2.84%.

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