Finspiration Australia. U.S. up strongly for second day.

 Yesterday in Australia.

XJO finished up just +0.1% yesterday.  It now needs to play catch-up after the SP500 was up >2% last night.  That suggests we could see an opening up on Monday of ~2%.  Events in Ukraine will still dominate the news, but the market now seems to be shrugging off the negativity present in the media. 

Overnight.

Dow Jones +2.51%.  SP500 +2.24%.  Nasdaq +1.64%.  Small Caps +2.23%.  Banks +4%.

SP500    

Positive divergence on the CCI has once again pointed to a reversal to the upside in the SP500.

Conditions overall remain bearish.  I'll consider this to be a counter-trend rally while bearish conditions remain.  But - enjoy the upside move while it happens.

Next Federal Reserve meeting is 15-16 March.  A little over two weeks away.  That could be the next big test for markets.

Commodities.

Commodities Index -1.51%.  Energy -1.21%.  Base Metals +0.04%.  Gold -0.33%.

VIX.

VIX (aka Fear Index) has fallen the past two days but remains elevated at 27.59.  It needs to fall below 20 to indicate a return to bullish conditions.