US equity indexes mostly closed on a weak note, SPX -15pts (0.2%) at 6395. Nasdaq comp’ -0.7%. Dow +0.04%. The Transports settled -1.9%. R2K -0.4%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a fourth consecutive daily decline, printing 6343, and recovering to settle -0.2% to 6395. Daily momentum is increasingly negative. Multiple supports around 6270/60s.
NAS: the fourth day lower of five, settling -0.7% to 21172. RSI 51s is neutral. S/t bearish.
R2K: the fourth day lower of five, settling -0.4% to 225.40. S/t bearish
Trans: settling -1.9% to 15602… on the intersecting, 10, 50, 200dma. S/t bearish.
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VIX’daily
Volatility spiked, the VIX printing 17.19, if cooling back to settle +0.8% to 15.69. Today’s candle is black/spiky, and suggestive equities will be green at some point on Thurs’. I’d be open to VIX 19/20s before the weekend, if SPX 6270s.
I do expect VIX far higher in Sept/Oct’, but for now, the cautious will sit on their hands until the flip side of Labor day.
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Looking ahead by 6pm EDT