US equity indexes closed on a positive note, SPX +60pts (0.9%) at 6834. Nasdaq comp’ +1.3%. Dow +0.4%. The Transports settled +0.2%. R2K +0.8%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: a second day higher, settling +0.9% to 6834. Thursday’s black candle failed to play out. Daily momentum ticked back upward, if remaining marginally negative. Bears could argue structure is a bear flag.
Whilst the s/t cyclical setup and structure favoured the bulls, today’s net gain was stronger than expected, not least for a quad-opex.
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NAS: a second day higher, settling +1.3% to 23107. Thursday’s black candle failed to play out. Daily momentum ticked back upward, if remaining marginally negative. Bears could argue structure is a bear flag.
R2K: a second day higher, settling +0.8% to 250.60. Thursday’s black candle failed to play out. Daily momo is fractionally negative. Bears could argue structure is a bear flag.
Trans: a second day higher, settling +0.2% to 17557. Daily momentum threatens to turn negative within 1-2 days.
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VIX’daily
Volatility was ground lower into the weekend, the VIX settling -11.6% to 14.91. Daily momentum ticked back lower, settling fractionally negative.
VIX weekly
Volatility declined for the third week of four, net lower by -5.3%. Weekly momentum ticked lower for a fourth week, and is marginally negative.
The default is to expect a broadly subdued VIX all the way into January.
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A little more… by 6pm EST