US equity indexes closed on a positive note, SPX +34pts (0.8%) at 4263. Nasdaq comp’ +1.3%. Dow +0.4%. The Transports settled +0.3%. R2K +0.02%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a day of considerable minor chop, if ending on a broadly positive note, settling +0.8% to 4263. Momentum ticked back upward, and remains on the low side. S/t bullish, 4300/4330s.
NAS: the fifth day higher of six, settling +1.3% to 13236. S/t bullish. 50dma 13600s, with massive trend resistance of 13800.
R2K: printing a new cycle low of 169.09, but settling +0.02% to 171.17. Today’s candle is spiky from (filled) yellow gap… just 2pts above natural H/S target of the 167s. S/t bullish, if only a few days.
Trans: printing a new cycle low of 14565, but settling +0.3% to 14724. A second close under the key 200ma. S/t bullish, if only a few days.
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VIX’daily
The VIX was a little mixed, printing a (cash market) high of 19.77, but cooling back to settle -6.1% to 18.58. Momentum ticked back downward, and remains on the high side. Further cooling to the 16/15s looks probable before the weekend.
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Looking ahead by 6pm EST