US equity indexes closed rather mixed, SPX +1pt (0.02%) at 4274. Nasdaq comp’ +0.2%. Dow -0.2%. The Transports settled +0.1%. R2K +1.0%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new cycle low of 4238, bouncing to 4292, and settling +1pt at 4274. Today’s candle is spike from purple gap, black, and leans s/t bearish. I’d note the 200dma at 4196. Below that.. its open air to psy’4K.
NAS: printing a new cycle low of 12963, if settling +0.2% to 13092. Today’s candle is black, and leans s/t bearish. I’d note the 200dma in the 12500s.
R2K: settling +1.0% to 176.06. Primary target are the 167s.
Trans: printing a new cycle low of 14700, and settling +0.1% to 14828. Today’s candle is spiky from the 200dma, but its black, and leans net bearish. Crashy bears could seek the April low of 13400.
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VIX’daily
Volatility was mixed, the VIX printing a new cycle high of 19.71, but cooling to settle -3.8% to 18.22. Momentum subtly ticked upward, and is on the VERY high side.
Equity bears should be seeking a weekly VIX settlement above the key 20 threshold, with an SPX close below the 200dma.
VIX upper monthly bollinger offers the 33s, which would arguably equate to SPX 4K.
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Looking ahead by 6pm EST