US equities closed moderately lower, sp -7pts @ 2040 (intra low 2025). The two leaders - Trans/R2K, settled lower by -0.6% and -0.8% respectively. Near term outlook offers further downside to at least the 2000/1990s. A H/S formation (with the neckline now broken) is suggestive of more dynamic action to the 1970/60s.
*it is highly notable that the Trans, R2K, and Nasdaq, are all sustainably trading under their respective 200dma.
Overall price action remains relatively subdued, as reflected in a VIX that is stuck in the mid teens.
a little more later...