US equity indexes closed significantly lower, SPX -53pts (0.9%) at 5797. Nasdaq comp’ -1.6%. Dow -1.0%. The Transports settled -1.0%. R2K -0.9%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening weak, sliding to 5762, and seeing a 2.30pm bounce to settle -0.9% to 5797. Momentum has turned negative… but I struggle to take any downside seriously unless <5600, or after an election ‘relief spike’ to around 6K.
NAS: settling -1.6% to 18276. Momentum has turned negative.
R2K: a fifth day lower, settling -0.9% to 219.29. Momentum has turned negative.
Trans: the third day lower of five, settling -1.0% to 16087… back under key price threshold. Its all ‘broad chop’… bullish >16800, bearish <15K.
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VIX’daily
Volatility picked up, the VIX printing 20.47, if cooling back to settle +5.7% to 19.24. Momentum ticked back upward, if still marginally negative.
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Looking ahead by 6pm EDT