US equity indexes closed a little mixed, SPX +6pts (0.1%) at 4781. Nasdaq comp’ +0.2%. Dow +0.3%. The Transports settled -0.5%. R2K +0.3%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the 12th daily gain of 14, printing a new cycle high of 4785, and settling +0.1% to 4781. Momentum is subtly weakening, and might turn negative on Friday.
*to be clear, the seasonal setup offers a ‘Santa rally’, which typically will extend into the first few days of January.
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NAS: the 14th daily gain of 16, printing a new cycle high of 15114, and settling +0.2% to 15099. Daily momentum is subtly weakening.
R2K: printing a new cycle high of 205.49, and settling +0.3% to 204.73. Resistance 206s, and then its mostly open air to the 236s of Nov’2021.
Trans: settling -0.5% to 16025. Daily momentum continues to weaken, and prone to turning negative Thurs/Friday.
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VIX’daily
Volatility was ground lower for a fourth consecutive day, the VIX settling -4.3% to 12.43. Momentum ticked lower for a third day, and might turn negative on Friday. Seasonally, the VIX will be inclined to be subdued, and ground lower into another long weekend.
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Looking ahead by 6pm EST