US equity indexes closed on a weak note, SPX -26pts (0.4%) at 6117. Nasdaq comp’ -0.5%. Dow -1.0%. The Transports settled -0.5%. R2K -0.9%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a morning low of 6084, bouncing to 6121, and settling -0.4% to 6117. Today’s candle is spiky from the 10MA, and leans s/t bullish, if only early Friday. Momo ticked lower, if remaining marginally positive.
Best guess… I’d look for an OPEX pin around 6100. So… even if we open Friday +20/30pts, I’d be mindful of a downside reversal.
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NAS: settling -0.5% to 19962. Today’s candle is spiky from the 10MA, and leans s/t bullish, if only early Friday.
R2K: settling -0.9% to 224.26. Wednesday’s reversal candle failed to play out. I’d note the 200dma in the 217s… which should hold into the spring.
Trans: a second day lower, settling -0.5% to 16465. Today’s candle is spiky from the 50dma… and leans s/t bullish, if only early Friday.
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VIX’daily
Volatility picked up, the VIX printing 16.63, if cooling back to settle +2.5% to 15.66. Momentum remains marginally negative. On balance, VIX will be inclined to be ground lower into the weekend, even if the SPX is -10/20pts.
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Looking ahead by 6pm EST