US equity indexes closed significantly lower, SPX -143pts (2.1%) at 6796. Nasdaq comp’ -2.4%. Dow -1.8%. The Transports settled -2.1%. R2K -1.2%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the fourth day lower of five, settling -2.1% to 6796. Today’s close was under the 50dma… tagging minor yellow gap in the closing hour. Daily momentum is offering ZERO sign of a s/t floor.
NAS: settling -2.4% to 22954… below the 50dma.
R2K: settling -1.2% to 262.63. Friday’s black doji candle played out. Today’s candle is a hollow red reversal, leans s/t bullish, if not necessarily the Wed’ open.
Trans: a second day lower, settling -2.1% to 17858. Vol’ was 128M, not reflective of any real selling pressure.
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VIX’daily
Volatility picked up, the VIX printing a high of 20.99, if cooling back to settle +26.7% to 20.09. Daily momentum has jumped upward.
The default is to expect VIX to cool back to fully fill yellow gap to the 15s.
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Looking ahead by 6pm EST