US equity indexes closed mixed, SPX +37pts (0.6%) at 6086. Nasdaq comp’ +1.3%. Dow +0.3%. The Transports settled -0.6%. R2K -0.7%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the fifth daily gain of seven, printing a new hist’ high of 6100, if cooling back to settle +0.6% to 6086. Momentum is on the high side, but there is no sign of a ceiling/turn.
Yes, we have THREE downside gaps, and the s/t bulls should be concerned of a tag to around 5900, before the 6200/300s in March.
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NAS: the fourth day higher of five, settling +1.3% to 20009. Momentum has turned positive.
R2K: settling -0.7% to 228.28… a clear stall from the 50dma. There is a downside gap 223/219s.
Trans: an early high of 16689, but settling -0.6% to 16555. RSI 55s… not overbought.
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VIX’daily
Volatility remained subdued, the VIX settling +0.3% to 15.10. Momentum continued to tick lower, and is on the moderately low side. Whilst the 18/19s would sync with SPX around 5900, I see the VIX CALL trade as broadly dead.
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Looking ahead by 6pm EST