US equity indexes closed a little mixed, SPX +6pts (0.1%) at 4793. Nasdaq comp’ -0.1%. Dow +0.2%. The Transports settled +0.5%. R2K +0.1%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: settling +6pts (0.1%) to 4793. Momentum ticked upward, and we’re on the high side. I’d note the 10MA at 4700… as a back test of the upper side of the pennant might occur. More broadly… the 4900s appear due within January, with 5K more realistic around the time of the Winter Olympics in February.
NAS: settling -0.1% to 15766. I’d note the 10MA in the 15400s, which appears a s/t threat.
R2K: settling +0.1% to 223.01. Today’s candle is NOT black (we closed above the opening level), but we’re cyclically high, and some cooling is a threat into year end.
Trans: settling +0.5% to 16466. No sign of a s/t ceiling/turn, but some cooling to around 16K appears realistic, and would arguably sync with sp’4720/4700
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VIX’daily
Volatility was subdued, the VIX settling -3.4% to 16.95. Momentum is on the very low side. A test of the key 20 threshold is a threat before year end.
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Looking ahead by 6pm EST