US equity indexes closed on a weak note, SPX -14pts (0.2%) at 7443. Nasdaq comp' -0.05%. Dow -0.6%. The Transports settled -1.2%. R2K -0.5%
SPX – daily
VIX – daily
Summary
Equities opened positive, but it didn't take long for a few indexes to turn red. The afternoon saw renewed adverse war headlines, with even the SPX turning red, settling at 7443.
Volatility was a little mixed, the VIX printing a low of 17.41, but recovering to settle -0.6% to 18.65. –
It was a bearish week for most US equity indexes, with net weekly changes ranging from -2.9% (Nasdaq comp'), -1.5% (SPX), -0,9% (Dow), -0.7% (R2K), -0.4% (NYSE comp'), to +2.5% (Trans).
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
Five US equity indexes were lower for the week, with one net higher.
The Nasdaq was rather powerfully lower, whilst the Transports was very significantly higher.
A net bearish week for the collective of US equities, but nothing that merits any hysteria. Its mostly just multi-week chop... a little below recent historic highs.
Whilst I struggle to see a new historic high (this side of Labor day), even if we do, I'd still look for some degree of washout ahead of the midterms. The only issue is whether its a basic correction of around 10%, or something bigger... 15%, or even 20/25%. The latter looks a real stretch unless a major 'adverse event' occurs. The middle east and the Ukraine comes to mind.
Anyway, earnings are set to broadly come in fine. The econ-data is mostly non-recessionary, if skewed by monstrous Govt' deficit spending.
Ohh, and I shall be net bullish equities unless the Fed cut rates. It is ironically the case that higher rates would be inherently bullish for equities, especially the financials. I continue to expect a hike in Sept' and Dec'.
... as episode 2026 of Planet Krazy continues.
If you value my work on Blogger, X, and want more of the same,
subscribe to my intraday service! For details and the latest offers,
see: https://www.tradingsunset.com
Have
a good weekend --
*the next post on this page will likely appear 4.20pm EST on
Monday.
US equity indexes closed broadly lower, SPX -76pts (1.0%) at 7457. Nasdaq comp' -1.4%. Dow -0.8%. The Transports settled -0.4%. R2K -0.5%
SPX – daily
VIX – daily
Summary
US equities opened significantly lower, especially pressured by Asian markets. There was a bounce from 7431 to 7498. The afternoon saw renewed cooling to settle sig' lower at 7457.
Volatility climbed into the weekend, the VIX printing 19.50, and settling +12.2% to 18.77 -
