US equity indexes closed rather mixed, SPX -13pts (0.2%) at 5473. Nasdaq comp’ -0.8%. Dow +0.8%. The Transports settled +1.2%. R2K -0.4%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new hist’ high of 5505, but cooling to 5455, and settling -0.2% to 5473. Bearish engulfing candle… although I’d guess the market makers would prefer a quad-opex pin around 5450, rather than 5500 or 5400.
NAS: printing a new hist’ high of 17936, but settling -0.8% to 17721. Today’s candle is bearish engulfing, and leans bearish into the weekend. RSI 72s… overbought.
R2K: settling -0.4% to 199.88. Momentum remains moderately negative, as the smaller caps are struggling.
Trans: a low of 14879, but settling +1.2% to 15075, with momentum turning fractionally positive. Today’s candle is bullish engulfing, and leans bullish into the weekend.
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VIX’daily
Volatility picked up, the VIX settling +8.0% to 13.28. Momentum ticked a little higher, and remains marginally positive. Today’s candle is bullish engulfing, an appropriate mirror to the SPX.
However… Friday will be quad-opex, and more than anything, I’d expect considerable equity chop, with the VIX prone to being ground lower, even if equities are a touch lower.
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Looking ahead by 6pm EDT