US equity indexes mostly closed on a weak note, SPX -24pts (0.6%) at 4129. Nasdaq comp’ -0.8%. Dow -0.3%. The Transports settled +0.1%. R2K -0.5%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a few moderate swings, printing 4114 in the closing hour, but recovering to settle -0.6% to 4129. Wednesday’s reversal candle failed to play out.
The mini ramp in the final ten minutes managed to avoid a close under the 10MA (4128). Momentum ticked lower, and is due to turn negative on Friday. An OPEX settlement around 4100 would be most natural.
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NAS: settling -0.8% to 12059. Today’s candle is a hollow red reversal, and leans s/t bullish, at least for part of Friday. Momentum is fractionally negative. The 12200s remain intact as massive resistance.
R2K: settling -0.5% to 177.34. Today’s candle is a hollow red reversal, and leans s/t bullish, at least for part of Friday. Momentum is weakening.
Trans: settling +0.1% to 14447. Today’s candle is spiky on the upper side from around the 50dma. Momentum remains moderately positive, due to cool into end month/early May.
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VIX’daily
Volatility picked up, the VIX printing 17.69, if cooling back to settle +4.3% to 17.17. Momentum ticked upward, due to turn positive next Monday. I’d note the upper bollinger in the upper 21s.
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Looking ahead by 6pm EST