US equity indexes mostly closed on a weak note, SPX -10pts (0.2%) at 5853. Nasdaq comp’ +0.3%. Dow -0.8%. The Transports settled -1.2%. R2K -1.6%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the second day lower of three, printing 5824, if recovering to settle -0.2% to 5853. Momentum ticked lower… prone to turning negative within 1-2 days.
NAS: a fourth day higher, settling +0.3% to 18540. The July hist’ high (18671) is indeed very near.
R2K: a third day lower, settling -1.6% to 222.12. Daily momentum prone to turning negative by Wed’.
Trans: the second day lower of three, settling -1.2% to 16190… right on key price threshold. Bullish >16800…. bearish <15K, otherwise its all chop.
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VIX’daily
Volatility was a little mixed, the VIX printing 19.34, if cooling back to settle +1.9% at 18.37. Momentum ticked lower for a ninth day, and remains marginally negative.
Once the election is out of the way, the VIX will be inclined (at least initially) to be whacked lower… with higher equities. Again… if initially/briefly.
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Looking ahead by 6pm EDT