US equity indexes closed on a weak note, SPX -16pts (0.4%) at 4091. Nasdaq comp’ -0.8%. Dow -0.1%. The Transports settled -1.0%. R2K -0.7%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new cycle high of 4134, seeing considerable chop, but ending on a weak note to settle -0.4% to 4095. Today’s candle is bearish engulfing, and leans distinctly s/t bearish. Today’s close is just 0.1pts above first support of the 10MA.
Momentum ticked lower for a sixth day, and might turn negative on Friday. I’d especially note the 50dma at 4031, as seems realistic on Friday.
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NAS: printing 12134, but swinging lower to settle -0.8% to 11929. Today’s candle is bearish engulfing, and leans distinctly s/t bearish. Momentum has turned negative. Next major support 11500/400s.
R2K: printing 178.98, but swinging lower to settle -0.7% to 175.84. Today’s candle is bearish engulfing, and leans distinctly s/t bearish. Support 172s.
Trans: printing 14440, but swinging lower to settle -1.0% to 14220. Today’s candle isn’t quite bearish engulfing, but some further downside to 14k appears probable.
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VIX’daily
Volatility was mixed, the VIX printing 19.57, cooling to 18.28, but settling -0.05% to 19.09. Momentum ticked upward for a sixth day, and might turn positive on Friday. Upper bollinger is offering a spike to the 25s, which might sync with sp’4K.
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Looking ahead by 6pm EST