US equity indexes closed very significantly lower, SPX -81pts (2.0%) at 3997. Nasdaq comp’ -2.5%. Dow -2.1%. The Transports settled -3.2%. R2K -2.9%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a third day lower, printing 3995, and settling -2.0% to 3997. Today’s candle offers zero sign of a s/t floor. Momentum is increasingly negative, as early Wed’ will offer the 50dma at 3978.
NAS: a third day lower, settling -2.5% to 11492… just above the 200dma.
R2K: settling -2.9% to 187.44. We’ve an increasingly secure m/t double top of 200/199s. Next support 185s.
Trans: a third day lower, settling -3.2% to 14645. Today’s candle offers ZERO sign of a s/t floor, and I’d note the 50dma in the 14300s.
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VIX’daily
Volatility picked up, the VIX settling +14.2% to 22.87. Momentum has accelerated to the upside, with no sign of a s/t ceiling/turn. Next resistance are the mid/upper 24, as seem probable early Wed’.
Yes, purple gap will be a place to retrace to, before another push upward into end month/early March.
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Looking ahead by 6pm EST