US equity indexes closed a little mixed, SPX +1.9pts (0.05%) at 4138. Nasdaq comp’ +0.2%. Dow -0.2%. The Transports settled -0.8%. R2K -0.2%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a second day higher, settling +0.05% to 4138. Momentum ticked upward for a second day, but remains marginally negative.
I’d especially note minor upper green gap of the 4160s… which is realistic early Tuesday. Breaking above last week’s high of 4186 looks very difficult. I’m open to a fake move into the 4190/4200s, before reversing lower.
In the next s/t cooling wave, basic target is red gap of 4084/61.
*if I can short from 4180s, I see a ‘comfortable’ 100pts of downside, and that really isn’t bold… before the weekend.
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NAS: a second day higher, settling +0.2% to 12256. Massive resistance 12200s. I’m open to a ‘fake out’ move into the 12300s… but any close >12300 would be a real problem to the bears.
R2K: settling -0.2% to 174.05. Momentum ticked upward, prone to turning positive on Tuesday. 50dma resistance 176/77s. Massive resistance 179/180.
Trans: settling -0.8% to 14015. Today’s candle is spiky on the upper side from around the 50dma. We’re trapped between the 50 and 200dma. Broader structure is a valid H/S, that began last November. Bears need <13400 for a decisive break.
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VIX’daily
Volatility was itself very subdued, the VIX printing 17.88, but cooling back to settle -1.2% to 16.98. Momentum ticked lower for a second day, if remaining moderately positive.
The 15s look briefly viable.
Upside target 20/21s within Wed/Thurs’.
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Looking ahead by 6pm EST