US equity indexes closed a little mixed, SPX +1.8pts (0.04%) at 4783. Nasdaq comp’ -0.03%. Dow +0.14%. The Transports settled -0.15%. R2K -0.4%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new cycle high of 4793, and settling +0.04% to 4783. Today’s candle is black, and leans s/t bearish. Momentum ticked lower, and is due to turn negative within 1-2 days.
Equity bears have nothing to tout unless the daily 10Ma (4748) is broken and settled under.
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NAS: printing a new cycle high of 15150, if settling -0.03% to 15095. Momentum prone to turning negative next Tues/Wed’.
R2K: settling -0.4% to 204.00. Today’s candle is a hollow red reversal, and leans s/t bullish… if only part of Friday.
Trans: a second day lower, settling -0.15% to 16002. Momentum prone to turning negative on Friday.
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VIX’daily
Volatility remained subdued, the VIX settling +0.3% at 12.47. Momentum ticked lower for a fourth day.
On balance, volatility could be expected to be ground lower into the long weekend. The key 20 threshold looks out of range until we’re past the THIRD long weekend of Jan’13-15.
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Looking ahead by 6pm EST