US equity indexes mostly closed on a weak note, SPX -60pts (0.8%) at 7515. Nasdaq comp’ -1.5%. Dow -0.3%. The Transports settled +0.15%. R2K -0.8%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a day of choppy cooling to settle -0.8% to 7515. Momentum might turn negative on Tuesday. Bears need to take out the recent low of 7294 to turn things interesting.
NAS: settling -1.5% to 25873, with the semicons dragged down by South Korea (-8.9%). Daily momentum prone to turning negative on Tuesday. Weaker than other indexes, as we’re regularly settling under the 50dma.
R2K: the sixth daily decline of eight, settling -0.8% to 293.49. Bears need a break <50dma to turn things interesting, otherwise… it just makes for yet another higher low.
Trans: the second daily gain of three, settling +0.15% to 22210. Today’s gain (if minor) was more impressive, relative to WTIC +8%.
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VIX’daily
Volatility picked up, the VIX printing 17.41, and settling +14.2% at 17.16.
Daily momentum is set to turn positive early Tuesday, which bodes for equities to start red.
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Looking ahead by 6pm EDT