US equity indexes closed moderately mixed, SPX +16pts (0.4%) at 4381. Nasdaq comp’ +0.9%. Dow -0.01%. The Transports settled +0.4%. R2K -0.8%
sp’60min
Summary
closing hour action: minor chop, if printing a new intraday high of 4380. S/t momentum ticked upward, turning fractionally positive. I’d note upper bollinger resistance around 4395.
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… and that concludes a Thursday. A day of considerable chop, but VIX 12s make it a net bullish day, as almost no one is concerned about anything, least of all China/Taiwan or Ukraine/Russia. I’d see it as hyper-complacency.
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notable bond yield proxy: TNX
Key thresholds… 3.86%, psy’ 4.00%, and 4.10%.
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notable REIT: IYR
Little reason not to expect the Oct’ $74s to be taken out… if not until the flip side of Labor day.
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notable regional bank: WAL
One of the top five that look doomed… unless the Treasury/Fed announce they’ll guarantee all deposits.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST