US equity indexes closed a little mixed, SPX -3pts (0.1%) at 4354. Nasdaq comp’ +0.2%. Dow -0.1%. The Transports settled -0.2%. R2K +0.2%
sp’daily5
nasdaq comp’
R2K
transports
Summary
SPX: Opening moderately higher, but the gains were shaky from the start. The tenth day lower of twelve, settling -3pts (0.1%) to 4354. Momentum ticked lower, still no definitive sign of a floor/turn. I’d note the July low of 4233, which itself is only 3% above m/t support of the low 4100s.
NAS: settling +0.2% to 14746. Black candle… leans s/t bearish. Cyclically low. RSI 38s.. but that is potential for lower levels.
R2K: settling +0.2% to 217.59. Black candle… leans s/t bearish, at least for part of Wednesday. Broadly… its STILL all chop since February.
Trans: settling -0.2% to 14067, a second close under the 200dma.
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VIX’daily
VIX opened lower in the 21s, but swung to the 25s, and settling -5.2% to 24.36. Today’s candle is a hollow red reversal, and leans s/t bullish, and by default… s/t bearish equities. Momentum is on the VERY high side. In theory, equity bears have 1-3 days, before volatility could be expected to cool into end month.
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Looking ahead by 6pm EST