US equity indexes closed a little mixed, SPX -8pts (0.1%) at 5464. Nasdaq comp’ -0.2%. Dow +0.04%. The Transports settled +0.2%. R2K +0.2%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: a second day lower, settling -0.2% to 5464. Momentum ticked lower for a second day, and might turn negative next Tuesday.
NAS: a second day lower, settling -0.2% to 17689. Momentum is weakening, and might turn negative next Tuesday.
R2K: settling +0.2% to 200.29. Momentum is slowly swinging back toward the bulls, prone to turning positive into end month.
Trans: the third day higher of four, settling +0.2% to 15113. Daily momentum is marginally positive.
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VIX’daily
VIX weekly
Volatility was naturally subdued into the weekend, the VIX settling -0.6% to 13.20. Daily momentum ticked upward a little, and is on the marginally positive side. I’d be open to a mini spike into the 14s next week.
The VIX climbed for the third week of four, net higher by +4.3%. Weekly momentum ticked upward, if remaining marginally negative.
I do wonder if the French and/or UK elections (June 30th & July 7th, and July 4th respectively) will see European markets plunge, which would drag the US market lower… if only a little/briefly.
On balance… I’d look for volatility to be a little higher next week, but then the following week is July 4th week, which will likely be very subdued, with the VIX prone to be ground lower.
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a little more… by 6pm EDT