US equity indexes closed powerfully lower, SPX -121pts (2.8%) at 4271. Nasdaq comp’ -2.5%. Dow -2.8%. The Transports settled -2.2%. R2K -2.6%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a third day lower, settling -2.8% to 4271. Yesterday’s bearish engulfing candle played out. I’d note legacy red gap of 4188/73. Grander target is the lower monthly bollinger, currently in the 3300s.
NAS: a third day lower, settling -2.5% to 12839. Alarm bells if any price action <12500. Grander target is the lower monthly bollinger, currently in the 11100s.
R2K: a second day lower, settling -2.6% to 192.66. Yesterday’s bearish engulfing candle played out. Grand target remain the Jan’2020 166s.
Trans: a second day lower, settling -2.2% to 15067. Momentum ticked lower, remaining fractionally positive.
–
VIX Daily
VIX weekly
With spiraling equities, volatility picked up, the VIX settling +24.4% to 28.21. Momentum ticked upward, but there is another 1-4 days of viable upside. Next resistance are the 37/38s.
The VIX climbed for a third consecutive week, net higher by +24.3%. Momentum ticked upward, and will be prone to turning positive next week. Upper bollinger offers the 32s.
–
a little more… by 6pm EST