US equity indexes closed very significantly lower, SPX -124pts (2.4%) at 5158. Nasdaq comp’ -2.5%. Dow -2.5%. The Transports settled -2.0%. R2K -1.9%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening sig’ lower, sliding to 5101, with a late afternoon mini ramp to settle -2.4% to 5158. Thursday’s black candle played out. Momentum has turned negative. S/t bullish into early May.
NAS: settling -2.5% to 15870. Momentum ticked lower, if still fractionally positive. S/t bullish into early May.
R2K: settling -1.9% to 182.88. Daily momo remains fractionally positive. S/t bullish into early May.
Trans: settling -2.0% to 13166. Daily momentum still turned positive. S/t bullish into early May.
–
VIX’daily
Volatility picked up, the VIX printing 35.75, and settling +14.1% to 33.82. Momentum remains moderately negative. I still expect the key 20 threshold by the May 7th FOMC.
–
Looking ahead by 6pm EDT