US equity indexes closed mixed, SPX -13pts (0.2%) at 5967. Nasdaq comp’ -0.5%. Dow +0.1%. The Transports settled +0.3%. R2K -0.2%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: an opening high of 6018, but cooling to 5952, and settling -0.2% to 5967. Friday’s candle is bearish engulfing, and suggestive Monday will be red at some point. Momentum continues to weaken. The more aggressive bears will be seeking yellow gap… with the 50dma.
NAS: a high of 19696, but settling -0.5% to 19447. Friday’s candle is bearish engulfing, and suggestive Monday will be red at some point. I’d note orange gap with the intersecting 50 and 200dma.
R2K: settling -0.2% at 209.18. Bears could seek the 50dma in the 200s.
Trans: settling +0.3% at 14764. Daily momo is marginally negative. Bears could seek orange gap with the 50dma.
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VIX’daily
Volatility was mixed, the VIX printing a low of 19.11, but settling +2.4% to 20.62. Friday’s candle is black… and suggestive Monday will see a red VIX at some point. Daily momentum remains moderately positive.
VIX weekly
A net weekly decline of -1.0%. Weekly momentum ticked upward for a second week, and prone to turning positive by mid July. On any basis… market insurance… aka… protection, is cheap!
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a little more… by 6pm EDT