US equity indexes closed a little weak, sp -11pts (0.4%) at 2821. The two leaders - Trans/R2K, both settled -0.6%. VIX settled +12.3% to 14.78. Near term outlook offers a bounce to the 2850/60s.
It was a choppy day to begin the week, mostly leaning on the bearish side. The sp' swung from a pre-market/overnight decline of around -18pts, opening fractionally higher, and clawing to 2843. There was renewed cooling to break under last Friday's low, with a new spike floor of 2819, climbing to 2832, before closing hour cooling.
Volatility climbed for a third day, with the VIX settling just above resistance of the mid 14s. The 17/18s are clearly viable in the near term.
Best guess, s/t upside for 1-2 days to the sp'2850/60s. It won't take much of an excuse to see a bounce. Whilst Thursday generally favours the bears, Friday opex will lean to chop.
Bonus chart: Turkey'100
A Monday decline of -2.4%, which is arguably somewhat impressive considering the ongoing Lira crisis. Note the macd bearish cross, which does lean to the Turkish bears in the immediate term.
Extra charts in AH (usually around 7pm EDT) @
Goodnight from London
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