US equity indexes mostly closed on a weak note, SPX -5pts (0.1%) at 5867. Nasdaq comp’ -0.1%. Dow +0.04%. The Transports settled -0.6%. R2K -0.4%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: opening moderately higher, printing a high of 5935. There was a stall from around the 50dma, with late afternoon weakness to settle -0.1% to 5867. Momentum ticked lower, and is on the very low side, but there is arguably another 1-2 days of viable cooling.
NAS: a third day lower, settling -0.1% to 19372. I’d note the 50dma around 19K
R2K: a third consecutive daily decline, settling -0.4% to 219.91. RSI 30s… oversold, but a more natural floor would be 213/212s… with the 200dma.
Trans: the 15th daily decline of 17, settling -0.6% to 15859… testing the 200dma.
–
VIX’daily
Volatility was knocked lower, the VIX printing a low of 20.16, but settling -12.8% to 24.09. Momentum ticked upward, and is on the very high side. Thursday’s candle is a hollow red reversal, and leans s/t bullish VIX, and by default… s/t bearish equities… at least for part of Friday.
I’d be very mindful on whether the VIX settles this week above or below the key 20 threshold.
–
Looking ahead by 6pm EST