US equity close

  • S&P 500 up 28 points to 2610. Up 1.1%

  • DJIA +155 points to 24065. Up 0.65%

  • Nasdaq +117 points to 7023. Up 1.7%

2600 in the S&P 500 is a level many pundits have been watching. It corresponds to the October low and it's when the index really broke down in mid-December. The 55-dma is up next at 2634.

For me what has been most impressive has been the intraday buying. Any time there is a soft open or a slump, the buyers come back. That's a great sign.

The market also shook off a negative China headline today with Lighthizer saying there hadn't been much progress, which is impressive.