US equity indexes mostly closed on a weak note, SPX -23pts (0.4%) at 5940. Nasdaq comp’ -0.4%. Dow -0.3%. The Transports settled -1.0%. R2K +0.01%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: settling -0.4% to 5940. Monday’s bullish engulfing candle failed to play out. Momentum is slowly weakening. S/t bearish to yellow gap, with the 200dma at 5764.
NAS: settling -0.4% to 19142. Today’s candle is a hollow red reversal candle, and leans s/t bullish, if only early Wed’. Net bearish… to orange gap and the 200dma.
R2K: settling +0.01% to 208.99. Monday’s hollow red reversal candle fractionally played out. Orange gap should fully fill.
Trans: the ‘old leader’ lead the way down, settling -1.0% to 14962. Monday’s hollow red reversal candle initially/fractionally played out. S/t bearish… to around the 50dma.
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VIX’daily
Volatility remained subdued, the VIX settling -0.3% at 18.09. Monday’s black candle played out. Daily momentum ticked upward, and threatens to turn positive on Thursday… which would inherently favour the equity bears.
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Looking ahead by 6pm EDT