US equity indexes closed a little mixed, SPX +0.1pts (0.00%) at 5917. Nasdaq comp’ -0.1%. Dow +0.3%. The Transports settled -0.1%. R2K +0.1%
sp’daily5
nasdaq comp’
r2k
Transports
*stockcharts is having issues, chart not available.
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Summary
SPX: an early low of 5860, but recovering to settle effectively u/c at 5917. Daily momentum weakened for a sixth consecutive day, and is on the marginally negative side. S/t structure offers a bear flag. A break under the Friday low of 5853 would fully confirm the flag, and offer a mini washout to around 5700.
NAS: settling -0.1% to 18966. Daily momentum is marginally negative.
R2K: a third day higher… if only by +0.1% to 230.88. Daily momo remains negative.
Trans: settling -0.1% to 17002.
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VIX’daily
Volatility picked up, the VIX printing 18.79, but cooling back to settle +4.9% at 17.16 Momentum ticked higher for a fifth consecutive day, and is due to turn positive on Thursday. Basic target is ther key 20 threshold. If correct… then SPX will see the bear flag play out.
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Looking ahead by 6pm EST