US equity indexes closed significantly lower, sp -20pts @ 2084 (intra low 2076). The two leaders - Trans/R2K, settled lower by -0.6% and -1.0% respectively. With the full reversal of the Monday gains, near term outlook is back to bearish, first target is the sp'2050/40 zone.. which (in theory) should equate to VIX 16/17s.
*it is highly notable that the Dow and NYSE comp' both saw 'death crosses' today.. where the 50dma broke under the 200dma. Such an indicator is very laggy, but still.. it sure ain't a bullish sign.
As for the sp'500, even though we closed in the 2080s, the fact we did take out the Friday close of 2077 was a VERY bearish signal.
Considering recent price action, further downside looks due... next stop are the 2050/40s.
Closing update from Riley
a little more later...