US equity indexes closed a little mixed, SPX +0.7pts (0.02%) at 4227. Nasdaq comp’ +0.3%. Dow -0.1%. The Transports settled +0.3%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: a slightly more dynamic range of 28.43pts. A high of 4236, with a low of 4208, and settling +0.7pts (0.02%) to 4227. Today’s candle is distinctly black, and leans s/t bearish. Things only turn interesting under last week’s low of 4167, which would offer a spiral to key price threshold of the 4120s.
Best guess remains… 4000 before the 4400s. That is against both mainstream consensus, and that of my own readers (Monday Twitter poll).
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NAS: a third day higher, settling +43pts (0.3%) to 13924. Today’s candle is black, and it leans s/t bearish, at least for part of Wednesday.
Trans: settling +48pts (0.3%) to 15480… as the 50dma is effectively being tested. Cyclically low, and it argues against the notion of sp’4000. Only the bigger weekly cycle offers something, with momentum fractionally negative.
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VIX’daily
Volatility was itself subdued, the VIX settling +4.0% to 17.07. Momentum ticked upward. A test of the key 20 threshold is clearly viable this Thursday.
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Looking ahead by 6pm EST