Short Term Trading Week Starting: 16 Apr, page-145

US Market Closing Update

Good morning traders,

SPX/ES/SPY: 2708.64/2709.75/270.39
ES had a balance day where value discovery stayed in a narrow range and closed just below the most populated area of 2712. The SPX stayed above its 100 day sma, the 61.8% retrace of the most recent downtrend and within the gap that formed between 21 and 22 March. The bulls want to claim 2730. If they cannot maintain things over 2700 in the near term, they know the 50 day moving average is on the bear's radar.

Market Internals
Advance-Decline Lines: +337. NYSE Breadth: +1.53:1, NASDAQ Breadth: +1.29:1. NYSE TICK: Cumulative TICK trended down all day. TRIN: .83

NYSE MOC: +23M on balance. NYSE composite volume 770220.

Implied Volatility
VXK8:16.40, VXM8:16.70, VIX:15.60

Debt/Bond/Treasury
ZNM8 down -.40% and the 10 Year Treasury yield rises to 2.87% while the 2 Year yield rises to 2.431%. Spread between 2 and 30 year debt tightens.

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