US equity indexes closed on a weak note, SPX -20pts (0.5%) at 4493. Nasdaq comp’ -0.2%. Dow -0.4%. The Transports settled -1.1%. R2K -0.01%.
sp’daily5
nasdaq comp’
R2K
transports
Summary
SPX: a fourth consecutive day lower, settling -20pts (0.5%) to 4493. Today’s candle is of the bearish engulfing type, and leans s/t bearish, if only early Friday. Momentum ticked lower, and is an increasing downward pressure.
The crash calling maniacs have NOTHING to tout unless the most recent higher low of 4367 is taken out. On no realistic scenario does that seem probable.
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NAS: settling -38pts (0.25%) to 15248. I’d keep in mind this is just weak leaning chop from Tuesday’s new historic high.
R2K: settling -0.01% to 223.89. S/t price structure is a valid bull flag. I have to expect a bullish breakout.
Trans: settling -154pts (1.1%) to 14442. I have no concerns unless the July low of 14080 is lost, which seems unlikely.
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VIX’daily
The printed 19.21 in mid afternoon with sp’4492, if cooling back a little to settle +4.7% to 18.80. Momentum ticked upward. Today’s candle is black, and sure doesn’t support the notion of any ‘market drama’ ahead of the weekend.
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Looking ahead by 6pm EST