US equity indexes closed on a mixed note, SPX -10pts (0.2%) at 4373. Nasdaq comp' +0.4%. Dow -0.5%. The Transports settled +0.4%. R2K +0.3%.
SPX - daily
VIX - daily
Summary
US equities opened very significantly lower, but all the bears could manage was sp'4326, before a recovery into late morning to 4388. The afternoon saw renewed weakness, but with a closing hour recovery. Volatility picked up, the VIX settling +9.3% to 30.15.
SPX, monthly
The SPX settled under its monthly 10MA for the first time since April 2020. Under my criteria, that makes for a bearish monthly settlement. Monthly momentum is due to turn sustainably negative as of the Tuesday March 1st open. Natural target is the lower monthly bollinger, currently at 3117. Call it 'crazy talk', but that is the target.
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Goodnight
from London
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