US equity indexes began the week on a weak note, SPX -25pts (0.7%) at 3799. Nasdaq comp’ -1.2%. Dow -0.3%. The Transports settled -0.05%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: an early low of 3789, recovering to 3817, and settling -25pts (0.7%) to 3799. Momentum remains on the moderately higher side, but the s/t bullish trend is STILL intact. Things only turn interesting under the Jan’4 low of 3662, and that does NOT look realistic this week.
NAS: settling -165pts (1.2%) to 13036. Momentum settled fractionally negative… but the s/t bullish trend is STILL intact.
Trans: settling -6pts (0.05%) to 12869. Today’s candle is a reversal, and leans s/t bullish, at least for part of Tuesday.
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VIX’daily3
With equities leaning weak, the VIX picked up, seeing a high of 24.81, and settling +11.7% to 24.08. Momentum picked up a little. I would note the upper bollinger in the 26s, which would arguably sync with SPX gap of 3764/48.
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Looking ahead by 6pm EST