US equity indexes mostly closed on a positive note, SPX +47pts (1.0%) at 4696. Nasdaq comp’ +1.2%. Dow +0.7%. The Transports settled -0.01%. R2K +1.0%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: settling +1.0% to 4696. Momentum due to turn positive on Thursday. Upper trend resistance on Thursday will be 4728.
NAS: settling +1.2% to 15521. Momentum should turn positive on Thursday. New hist’ highs look far more viable in the first week of January.
R2K: a second day higher, settling +1.0% to 220.33, as momentum has turned positive. We have a break above s/t declining trend. Things turn decisive >228s.
Trans: lagging the main market, settling -0.01% to 15962. Momentum will be prone to turning positive within 3-4 days
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VIX’daily
With positive equities, the VIX was ground lower for a second day, settling -11.3% to 18.63. A weekly settlement under the key 20 threshold appears probable, and it will bode well for the equity bulls into early 2022.
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Looking ahead by 6pm EST