US equity indexes closed a little higher, SPX +33pts (0.6%) at 5509. Nasdaq comp’ +0.8%. Dow +0.4%. The Transports settled +0.4%. R2K +0.3%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: an early low of 5458, but clawing back upward to settle +0.6% to 5509. Today’s candle is bullish engulfing, and leans bullish for half-day Wed’.
NAS: the fifth day higher of six, settling +0.8% to 18028… coming within just 4pts of a new hist’ high. Momentum ticked upward, and will be prone to turning positive on Wednesday.
R2K: settling +0.3% to 201.83. Daily momentum remains marginally positive.
Trans: settling +0.4% to 15358. I have to wonder if we’ll see a push >16300 this year… for what is massive resistance.
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VIX’daily
Volatility remained subdued, the VIX settling -1.5% to 12.03. Momentum ticked lower for a sixth day, and has turned negative. Half-day Wed’ will bode for a subdued VIX into the July fourth break. There is little reason to expect much on Friday, whether its 13s, 12s… 11s… its all minor noise, as the VIX-CALL trade remains dead (along with Index PUTs).
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Looking ahead by 6pm EDT