US equity indexes closed on a positive note, SPX +29pts (0.7%) at 4487. Nasdaq comp’ +1.1%. Dow +0.3%. The Transports settled +0.5%. R2K +0.3%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a second day higher, settling +0.7% to 4487. Teal gap tagged. Price structure from Thurs’ is an ABC bear flag. A break <4430 would confirm it.
Momentum ticked back upward, but looks prone to turning negative this Wednesday. S/t bearish… 4335. At best… 4240 next Mon/Tues’.
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NAS: settling +1.1% to 13917. S/t bearish unless >14200.
R2K: settling +0.3% to 184.39. Black candle… s/t bearish. Alarm bells <181.00, which clearly isn’t far down.
Trans: settling +0.5% to 15286. Primary target remains the 200dma 14600s, with secondary 13400s.
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VIX’daily
Volatility remained subdued, the VIX settling -0.3% to 13.80. Momentum ticked upward for a fifth day, and might turn positive this Wednesday. Upper bollinger offers the 18s, psy’20 on a stretch.
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Looking ahead by 6pm EST