US equity indexes closed on a positive note, SPX +21pts (0.5%) at 4246. Nasdaq comp’ +0.8%. Dow +0.2%. The Transports settled +0.2%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: a second day higher, printing 4255, and settling +21pts (0.5%) to 4246. Momentum will be prone to turning positive Thursday, as a straight move into the 4300s is on the menu.
NAS: a second day higher, breaking a new historic high of 14269, settling +111pts (0.8%) to 14253. Upper bollinger is first resistance, but a move to the 14400/500s appears realistic before end month.
Trans: settling +32pts (0.2%) to 14940. I would note the 50dma in the 15300s.
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VIX’daily
With positive equities, volatility was ground lower for a second day, the VIX settling -6.9% to 16.66. Momentum is due to turn negative this Thursday.
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Looking ahead by 6pm EST