US equity indexes mostly closed on a weak note, SPX -14pts (0.4%) at 3694. Nasdaq comp’ -0.1%. Dow +0.1%. The Transports settled -0.6%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening significantly lower, and seeing an early low of 3636. There was a latter day recovery to 3702, and settling -14pts (0.4%) to 3694. Today’s candle is a very spiky hollow red reversal candle, and it leans s/t bullish, at least for part of Tuesday. I would note the 50dma at 3552.
NAS: an early low of 12525, but settling -13pts (0.1%) to 12742, and that made for a reversal candle, which leans s/t bullish… at least for part of Tuesday.
Trans: settling -80pts (0.6%) to 12485. Note the 50dma at 12111… which appears a threat before the Christmas break.
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VIX’daily3
With equities very significantly lower in pre-market, the VIX printed 31.46, and seeing a 10am high of 28.85. With equities recovering, the VIX cooled back, setting +16.6% at 25.16. Note today’s candle, which is hyper spiky from just below the 200dma. Daily momentum continues to tick upward, and is on the high side.
On balance, another foray into the 27/28s appears probable, even if the SPX doesn’t break under today’s low of 3636.
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Looking ahead by 6pm EST