US equity indexes mostly closed on a weak note, SPX -14pts (0.3%) at 4360. Nasdaq comp’ -0.7%. Dow +0.2%. The Transports settled +0.05%. R2K -0.5%.
sp’daily5
nasdaq comp’
R2K
transports
Summary
SPX: opening moderately lower, seeing an afternoon low of 4340, and settling -14pts (0.3%) to 4360. Yesterday’s black candle played out. I would note the 50dma at 4235. Soft target 4329/20… which is viable early Friday. Prime target 4250/40s appears realistic next week, before resuming upward into the 4400s.
NAS: a third day lower, settling -101pts (0.7%) to 14543. I would note the 50dma in the 14000s… some 4% lower, and appears realistic next week, before resuming upward.
R2K: a third day lower, settling -0.5% to 217.71. I would note the 200dma in the 205s, which should hold.
Trans: settling +7pts (0.05%) to 14696. Momentum subtly ticked upward, and remains fractionally negative.
–
VIX’daily
With equities mostly leaning weak, volatility picked up, the VIX settling +4.2% to 17.01. Momentum ticked upward, and is on the marginally positive side. Soft target 19/20s, secondary 22/23s.
–
Looking ahead by 6pm EST