US equity indexes mostly closed positive, sp +11pts (0.3%) at 3465. Nasdaq comp’ +0.4%. Dow -0.1%. The Transports settled +1.1%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: opening on a positive note, but Mnuchin stimulus chatter saw downside to 3440. The afternoon saw choppy upside to 3466, and settling +11pts (0.3%) to 3465. Bulls could argue price structure is a big bull flag.
NAS: a low of 11434 (yesterday’s black candle did play out, if marginally), but settling +42pts (0.4%) to 11548. Downside momentum is stalling, as the market is trying to resume upward.
Trans: a second day higher, settling +131pts (1.1%) to 11880. New hist’ highs aren’t far away.
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VIX’daily3
VIX weekly
The VIX saw a high of 28.67, but melted back, to settle lower for a third day, -2.0% to 27.55. Momentum ticked lower for a second day, and will be prone to turning negative next Mon/Tuesday.
For the week, the VIX gained +0.5%. Momentum continued to tick upward, settling fractionally net positive. Upper bollinger offers the 35s.
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a little more… by 6pm EST