US equity indexes closed a little weak, SPX -14pts (0.3%) at 4778. Nasdaq comp’ -0.2%. Dow -0.2%. The Transports settled -0.5%. R2K -0.05%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: breaking a new hist’ high of 4808, and churning into the mid afternoon. The closing hour saw a moderate cooling wave, settling -14pts (0.3%) to 4778. S/t bearish, with a couple of minor gaps to around 4700. The 4900s appear a given within January, with 5K far more realistic in February with the Winter Olympics.
NAS: a third day lower, settling -0.2% to 15741. I’d note the 50dma in the 15500s. Cyclically high, as momentum has started to tick lower.
R2K: settling -0.05% to 222.88. S/t bearish to 220/219s. A subsequent push >228 would be decisive.
Trans: settling -0.5% to 16380. S/t bearish, if only to around 16K.
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VIX’daily
Volatility was subdued, if picking up into the late afternoon, settling +2.2% to 17.33. Momentum ticked upward, as a spike to the key 20 threshold appears probable with sp’4720 or so.
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Looking ahead by 6pm EST