US equity indexes closed on a weak note, SPX -15pts (0.3%) at 4942. Nasdaq comp’ -0.2%. Dow -0.7%. The Transports settled -0.7%. R2K -1.3%
sp’60min
Summary
closing hour action: minor chop, leaning a little weak. S/t momentum ticked lower, and will be prone to turning negative early Tuesday.
*awaiting earnings from PLTR, SYM, VRTX, NXPI, SPG, AMKR, FMC, CHGG, RMBS, BRBR
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… and that concludes a Monday. Morning downside… but a rather standard latter day recovery. The s/t cyclical setup favours the bears, but I would be equally open to the 5000s this week.
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notable bond yield proxy: TNX
Yields climbed for a second day, partly helped by Powell talk on ’60 minutes’.
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notable bond ETF: TLT
Higher yields > lower bonds.
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notable stock: COIN
A new cycle low, nearing the July $114s.
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Here… a day of grey horror, and a fine excuse to stay inside.
Have a good evening
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more later on the VIX and Indexes by 6pm EST