US equity indexes mostly closed a little higher, SPX +5pts (0.1%) at 6005. Nasdaq comp’ +0.3%. Dow u/c. The Transports settled +0.7%. R2K +0.7%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a new cycle high of 6021, and settling +0.1% to 6005. Daily momentum remains fractionally negative. Bollinger bands are increasingly tight. Bulls could see ongoing price action as just consolidation, before another wave upward to new hist’ highs.
NAS: a new cycle high of 19637, settling +0.3% to 19591. RSI 67s… is on the high side.
R2K: the fifth day higher of six, settling +0.7% to 213.41. Today’s candle is black, from just key price threshold. S/t bearish.
Trans: a second day higher, settling +0.7% to 14976. Momentum prone to turning positive on Tuesday.
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VIX’daily
Volatility remained subdued, the VIX printing 17.57, and cooling to settle +2.3% to 17.16. Today’s candle is black, and leans s/t bearish… and by default… s/t bullish equities. Daily momentum remains fractionally positive.
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Looking ahead by 6pm EDT