The Closing Print live trading and financial blog during market hours.

The S&P500 is back to its winning ways, closing +5.65% YTD. This sent SPY back above its 9/20ema, forcing RSI and stochastic to turn higher as a result. Volume was above average. SPY is trading higher (239.18) in the pre-market session as well, currently 0.47% below ATH.

SPY daily

WTIC daily is basing at its 200ma. Pre-market trading is positive by 0.50% (+/-). If this strength persists, look for XLE to push higher into its descending channel.

WTIC daily

Working together with SPY and crude, high yield debt instruments rallied, as JNK clearly illustrates. Possible targets are VBP resistance then the upper trend line. Volume matched that of Tuesday, as traders jumped back into positions after Yelle’s comments. She raised rates 0.25.

JNK

Every sector was green yesterday, rallying to close near session highs. Until the indices get overbought again, price tells the story. Above the 9/20ema is bullish. TICK cumulative on both the NYSE and NASDAQ confirm that institutions are buying on the uptick.

Stay tuned and Happy Thursday.

Vinny



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