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Daily Close

US Stocks (equity sector performance) took geopolitical concerns in stride and most indices closed in full rally and FOMO (fear of missing out) mode yesterday. The Techspace remained on fire as well. The dollar was weak on Wednesday and EM currencies remained shaky with local currency bonds continuing to underperform. Our Confidometer below is saying all clear with the VIX breaking key support levels, put/call ratios falling and most US indices (led by small caps)breaking out above their (narrow!) Bollinger bands (on the upside) and well above their 50dMa and 200dMa, causing panic short covering and all-round short squeeziness except on the USD, and except on EM currencies.  

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