US equity indexes closed rather mixed, SPX -0.1pts (0.0%) at 4109. Nasdaq comp’ -0.4%. Dow +0.3%. The Transports settled +1.1%. R2K +0.8%.
sp’60min
Summary
closing hour action: a little cooling… as the more cautious quietly exited. S/t momentum ticked lower, settling marginally positive.
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… and that concludes a tedious Tuesday… ahead of the CPI data. The s/t cyclical setup favour the bears. I’d settle for any Wednesday close under the daily 10MA (currently around 4080), and look to exit before the weekend in the 4030s.
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notable bond yield proxy: TNX
Yields were net higher for a third day.
Mr Market would be very upset if >3.64%.
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notable stock: SCHW
Still m/t broken. Target remains 26/25s.
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notable bank: BAC
Just a bounce.
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Here… it was a day of grey rainy horror.
Have a good evening
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more later on the VIX and Indexes by 6pm EST