US equity indexes closed moderately lower, sp -18pts (0.7%) at 2711. The two leaders - Trans/R2K, settled -0.4% and u/c respectively. VIX settled +13.1% at 14.63. Near term outlook offers secondary target of sp'2671, before swinging strongly back upward into opex.
US equities opened moderately lower, and saw cooling to 2704 by lunchtime. Late afternoon saw a new intra low of 2701, but then a closing hour mini ramp. Wed' could easily open 10pts or so higher, but the secondary target of 2671 looks very viable before this Friday's opex. I will add that yesterday's black-fail candle at gap resistance, was a great example of why I consider them particularly important.
Volatility was naturally higher, with the VIX settling higher for a second day. If sp'2670s, then VIX 16/17s. The key 20 threshold looks well out of range.
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