US equity indexes mostly closed on a weak note, SPX -11pts (-0.3%) at 4488. Nasdaq comp’ -1.3%. Dow +0.4%. The Transports settled -0.9%. R2K -0.7%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a day of considerable chop, settling -0.3% to 4488. Multi-day price structure is a bear flag, as 4400 appears realistic next Mon/Tuesday.
NAS: the 5th day lower of 8, settling -1.3% to 13711. Momentum is increasingly negative. Soft target 13K.
R2K: the 6th day lower of 8, settling -0.7% to 197.98. The bolder bears will continue to seek the Jan’2020 $166s.
Trans: the 7th day lower of 8, settling -0.9% to 14470. The Feb’ low of 14133 could easily be taken out next week.
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VIX’daily
VIX weekly
Volatility was itself pretty subdued, the VIX settling -1.8% to 21.16. Momentum ticked upward, settling fractionally positive. Multi-day price structure is a bull flag (an appropriate mirror to the SPX). A spike to the 26/27s might sync with sp’4400 next week.
For the week, the VIX gained +7.8%. Momentum ticked lower, and remains marginally negative.
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a little more… by 6pm EST