US equity indexes closed somewhat mixed, SPX +14pts (0.3%) at 5475. Nasdaq comp’ +0.8%. Dow +0.1%. The Transports settled -0.8%. R2K -0.8%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a day of considerable minor chop, settling +0.3% to 5475. Momentum is increasingly negative, if only marginally. S/t bearish, if only part of Tuesday. More broadly… the 5600s look pretty easy when Q2 earnings start to come in.
NAS: settling +0.8% to 17879. Momentum remains marginally negative, as underlying price action remains especially strong.
R2K: settling -0.8% to 201.23. Friday’s black candle played out. Net bearish for Tuesday.
Trans: settling -0.8% to 15298. Leans a little weak for Tuesday.
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VIX’daily
Volatility was a little mixed, with an early high of 13.26, but the VIX cooling back to settle -1.8% to 12.22. Momentum ticked lower for a fifth day, settling fractionally positive.
There is zero reason to expect the VIX to spike in a holiday week. Whether its 13s, 12s, or the 11s… its ALL minor noise.
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Looking ahead by 6pm EDT