US equity indexes mostly closed broadly higher, SPX +31pts (0.5%) at 5948. Nasdaq comp’ +0.03%. Dow +1.4%. The Transports settled +0.8%. R2K +1.5%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening moderately higher to 5947, but seeing a rather ugly downside reversal to 5887. There was a secondary push upward to 5963, and settling +0.5% to 5948. Today’s candle is inconclusive. Structure is a multi-day bear flag, and offers around 5700.
NAS: settling +0.03% to 18972. Today’s candle is a black hammer, and leans net bearish into the weekend. Structure is a multi-day bear flag, with basic target of the 18500s.
R2K: settling +1.5% to 234.51. Momentum remains marginally negative.
Trans: settling +0.8% to 17172. Daily momentum still ticked lower.
–
VIX’daily
Volatility was mixed, an opening low of 15.73, a mini spike to 17.99, and settling -1.7% to 16.87. Momentum ticked upward for a sixth day, settling fractionally positive.
Soft target is the key 20 threshold, and that will clearly need the SPX to see the bearish pennant play out.
–
Looking ahead by 6pm EST