US equity indexes closed broadly lower, SPX -30pts (0.6%) at 4975. Nasdaq comp’ -0.9%. Dow -0.2%. The Transports settled -1.1%. R2K -1.4%
sp’60min
Summary
closing hour action: choppy, if leaning weak. S/t momentum ticked upward, if remaining on the low side.
*awaiting earnings from PANW, SEDG, O, TDOC, ENVX, CZR, FANG, NEO, TOL, MED
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… and that concludes a Tuesday. A net bearish day. The s/t cyclical setup is mixed, with the bigger daily charts suggestive of lower lows on Wed’, perhaps into Thurs’. Next major support… around psy’ 4900.
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notable bond yield proxy: TNX
Yields moderately lower. If structure is an ABC bounce… then bond bulls need to see renewed downside real soon.
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notable bond ETF: TLT
Long duration bonds… broadly flat.
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notable stock: MA
Chatter that swipe debit card fees might be deemed illegal.
Momentum has turned negative, and bodes bearish for a few more days.
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Here… early sun, but then the grey horror rolled in.
Have a good evening
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more later on the VIX and Indexes by 6pm EST