US equity indexes mostly closed on a weak note, SPX -7pts (0.2%) at 3687. Nasdaq comp’ +0.5%. Dow -0.7%. The Transports settled -0.2%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: a day of considerable chop, with a trading range just 22.1pts wide. Cooling for a third day, settling -7pts (0.2%) to 3687. Yesterday’s reversal candle did play out… if briefly and fractionally. Momentum continues to weaken, as the s/t setup favours the bears. I’d note the 50dma, which is now up to 3555.
NAS: breaking a new historic high of 12840, and settling +65pts (0.5%) to 12807. Yesterday’s reversal candle played out.
Trans: a third day lower, settling -25pts (0.2%) to 12459. Note the 50dma at 12123.
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VIX’daily3
Volatility was subdued, the VIX settling -3.7% to 24.23. Momentum still ticked upward, as the 27/28s appear viable, if not probable, before the Christmas break.
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Looking ahead by 6pm EST