US equity indexes ended November on a weak note, SPX -16pts (0.5%) at 3621. Nasdaq comp’ -0.1%. Dow -0.9%. The Transports settled -0.9%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening weak, and cooling to upper end of minor gap to 3594. The afternoon saw a moderate recovery, settling -16pts (0.5%) to 3621. New hist’ highs in 3700s appear probable within December. Tom Lee’s 3800s are something of a stretch.
NAS: breaking a new historic high of 12244, but swinging to 12027, and settling -7pts (0.1%) to 12198. Upper bollinger is offering new hist’ highs >12300.
Trans: a third day of cooling, settling -111pts (0.9%) to 12450, notably 3pts above first support of the 10ma. New hist’ highs appear probable within December, upper bollinger will soon be offering >13k.
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VIX’daily3
Volatility saw a morning high of 22.89, but cooled back, the VIX settling -1.3% to 20.57. Whilst daily momentum is ticking upward, VIX is still being ground lower, as the mainstream are exceptionally comfortable ahead of years end. Any daily closes in the VIX <20, would be seen by many as a ‘BUY’ equities signal.
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A special post to wrap up the month… by 6pm EST