US equity indexes closed on a positive note, SPX +55pts (1.0%) at 5751. Nasdaq comp’ +1.4%. Dow +0.3%. The Transports settled +0.5%. R2K +0.1%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a high of 5757, filling minor green gap, and settling +1.0% to 5751. Momentum ticked upward, if remaining marginally negative. I’m open to a marginal new hist’ high on Wed’, before another swing lower.
NAS: settling +1.4% to 18182. Momentum has turned back to fractionally positive. The July hist’ high of 18671 does not look viable this side of the election.
R2K: settling +0.1% to 217.59. Black candle… leans s/t bearish, if not necessarily the actual Wed’ open.
Trans: settling +0.5% to $15863. Monday’s reversal candle played out. Today’s close was under the 10MA… with the 16300s remaining a massively important price threshold. Bullish >16800 (to be decisive), bearish <15K.
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VIX’daily
Volatility was ground lower, the VIX settling -5.4% to 21.42. Momentum is flat-lining on the moderately high side. Most notable is that despite today’s significant gain in the SPX, the VIX is still comfortably holding above the key 20 threshold.
Having printed the 22/23s, next upside resistance is psy’30, which I have to expect within the near term.
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Looking ahead by 6pm EDT