After SPY bottoming, this comes
|S&P 500 was off to a rocky opening yesterday, but we made it both swing and intraday – and the market breadth that I cautioned clients about, did improve as befits such an up day. Yesterday had rather risk-on than risk-off characteristics, even though we had to deal with an opening flush, as was the case for quite a few days in a row.
Precious metals also followed my bullish call of gold reaping the rewards, and oil closing practically on my very near to $70 target given for Thursday,
What I would highlight about today? Check out this snapshot from our intraday channel, look at the crypto short-term very extended posture, and finally VIX.
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