US equity indexes closed on a positive note, SPX +17pts (0.3%) at 6280. Nasdaq comp’ +0.1%. Dow +0.4%. The Transports settled +2.6%. R2K +0.5%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a new hist’ high of 6290, and settling +0.3% to 6280. RSI 71s is overbought.
NAS: a new hist’ high of 20655, and settling +0.1% to 20630. RSI 69s… borderline overbought.
R2K: a new cycle high of 226.05, settling +0.5% to 224.82. RSI 69s… borderline overbought.
Trans: a new cycle high of 16480, settling +2.6% to 16316. RSI 70s.. overbought.
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VIX’daily
Volatility was ground lower for a third day, the VIX settling -1.0% to 15.78. Daily momentum is fractionally negative. The default is to expect VIX to be ground lower into the weekend.
If the market is riled up next week by the CPI data, then a mini burst to 19/20s is viable… but nothing sustained >20.
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Looking ahead by 6pm EDT