US equity indexes mostly closed on a weak note, SPX -11pts (0.2%) at 5702. Nasdaq comp’ -0.4%. Dow +0.1%. The Transports settled -3.5%. R2K -1.0%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: a low of 5674, but recovering to settle -0.2% to 5702. Momentum ticked a little higher, and is on the moderately high side. I’d note the lower bollinger at 5434.
NAS: settling -0.4% to 17948. Momentum is on the high side. Big target is the 200dma in the 16400s.
R2K: settling -1.0% to 221.63. Thursday’s black candle played out. Momentum ticked a little higher, and is on the high side.
Trans: powerfully lower by -3.5% to 15755, skewed due to FedEx, and to a lesser extent by sister courier UPS. Today’s drop negates the marginal breakout. Bullish >16800, bearish <15K.
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VIX’daily
Volatility was ground lower into the weekend, the VIX settling -1.1% to 16.15. Momentum settled marginally negative. Basic upside target is the key 20 threshold.
VIX weekly
The VIX cooled for a second week by -2.5%. Weekly momentum ticked lower, and remains marginally positive. Upper bollinger offers the 21s. I have to expect >30 before the election, even if the SPX only cools back to (gap 3) of 5252/5199.
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a little more… by 6pm EDT