US equity indexes closed very significantly lower, SPX -95pts (1.6%) at 5844. Nasdaq comp’ -1.4%. Dow -1.9%. The Transports settled -2.7%. R2K -2.7%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a low of 5830 (23pts shy of yellow gap), and settling -1.6% to 5844. The first close under the 10MA since April 22nd. S/t bearish, and I’d note the 200dma at 5767. Momentum due to turn negative at the Friday open.
NAS: a new cycle high of 19241, but swinging lower to settle -1.4% to 18872. Tuesday’s hollow red reversal candle briefly/fractionally played out. Today’s candle is bearish engulfing. S/t bearish.
R2K: settling -2.7% to 208.36. Orange gap almost filled. S/t bearish to around 200.
Trans: a third day lower, settling -2.7% to 14559. Yesterday’s bearish engulfing candle played out. Orange gap will likely fully fill.
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VIX’daily
Volatility was very mixed, the VIX printing a 1pm low of 17.77, but swinging powerfully higher to 21.05, and settling +15.4% to 20.87. Today’s candle is bullish engulfing. Momentum due to turn positive on Thursday. 25/26 looks realistic within 1-3 days.
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Looking ahead by 6pm EDT