US equity indexes closed a little weak, SPX -4pts (0.1%) at 7753. Nasdaq comp’ -0.3%. Dow -0.1%. The Transports settled -0.6%. R2K -0.5%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a narrow range day – just 30pts wide, settling -0.1% to 7753. Momentum has leveled out. I’d be open to a retrace to around the recent hist’ high of 7620.
NAS: a third day lower, settling -0.3% to 26605. Momentum is on the high side. I’d be open to a retrace to the 50dma on Wed/Thurs’
R2K: a third day lower, settling -0.5% to 299.98. Momentum is moderately positive.
Trans: a third day lower, settling -0.6% to 21366… especially pressured by higher oil prices. Momentum remains marginally negative, and should turn positive, if not until next week.
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VIX’daily
Volatility picked up a little, the VIX settling +3.8% to 15.46.
Daily momentum ticked back upward.
A brief burst to the 16/17s is clearly viable.
Broadly… subdued into mid Sept’
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Looking ahead by 6pm EDT