US equity indexes closed on a positive note, SPX +40pts (0.7%) at 6066. Nasdaq comp’ +1.0%. Dow +0.4%. The Transports settled +1.0%. R2K +0.4%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing 6073, and settling +0.7% to 6066. Friday’s bearish engulfing candle failed to play out. Today’s candle is an inside day, but I’m rather dismissive of it. S/t bearish to red gap… unless >6100.
NAS: settling +1.0% to 19714. Momo remains fractionally negative.
R2K: settling +0.4% to 226.87. Black candle. Daily momentum prone to turning negative within 1-2 days.
Trans: the fourth day higher of five, settling +1.0% to 16312. I’d look for another test of the 200dma.
–
VIX’daily
Volatility remained subdued, the VIX settling -4.4% at 15.81. Momentum ticked a touch lower, and remains fractionally negative. If SPX 5905… then VIX 19/20s, as looks realistic Wed’/Thurs’
–
Looking ahead by 6pm EST