US equity indexes closed on a weak note, SPX -31pts (0.8%) at 3955. Nasdaq comp' -0.6%. Dow -0.9%. The Transports settled -1.0%. R2K -0.7%.
SPX - daily
VIX - daily
Summary
US equities opened a little choppy. There was an early push to 4015, but once again... the sellers appeared, with choppy weakness into the mid afternoon to 3965. The late afternoon saw considerable chop, breaking a new cycle low in the final seconds, settling at 3955.
Volatility was subdued, the VIX settling -1.3% to 25.87, and is clearly not supportive of today's equity declines.
SPX, monthly
The SPX printed 4325, but saw a net monthly decline of -175pts (4.2%) to 3955. The August candle is distinctly spiky from the key 10MA, and bodes bearish for Sept>early Nov'.
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