US equity indexes mostly closed significantly lower, sp -38pts (1.2%) at 3281. Nasdaq comp’ -0.1%. Dow -1.8%. The Transports settled -2.6%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: a fourth day lower, printing 3229, and settling -38pts (1.2%) to 3281. Today’s candle is spiky from around key price threshold of the 3230s, and leans s/t bullish, if only for a day or two. Note the 200dma at 3104, which is prime target.
NAS: a fourth day lower, seeing a low of 10519, and settling -14pts (0.1%) to 10778. Today’s candle is a reversal, and leans s/t bullish, if only for 1-2 days. The 200dma in the 9400s is prime target.
Trans: a third day lower, settling -302pts (2.6%) to 11129. Price is still clustering around key price threshold. I would note the 50dma in the 10600s.. which appears a given.
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VIX’daily3
With equities significantly lower, the VIX spiked to 31.18, and settling +7.5% to 27.78. Today’s black spiky candle leans to s/t cooling. Daily momentum is starting to tick upward again, and will be prone to turning positive within 1-2 days.
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Looking ahead by 6pm EST