US equity indexes closed on a weak note, sp -2pts (0.1%) at 2798. The two leaders - Trans/R2K, settled -1.0% and -0.5% respectively. VIX settled +5.3% at 12.83. Near term outlook offers minimum technical necessity of sp'2768.
The week in equities began with a great deal of micro chop, but clearly leaning on the weaker side, S/t bearish to the sp'2760s, which should equate to VIX 14s. Tuesday should be far more dynamic, not least as we have Powell speaking, whom the market could use as an excuse for sig' downside.
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