Saturday, 21 December 2024

Weekend update - US equity indexes

It was a bearish week for US equity indexes, with net weekly declines ranging from -4.9% (Trans), -4.5% (R2K), -3.1% (NYSE comp'), -2.2% (Dow), -2.0% (SPX), to -1.8% (Nasdaq comp').

Lets take our regular look at six of the main US indexes (weekly candle charts)

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

Summary

All six US equity indexes were net lower for the week.

The Transports lead the way down, whilst the Nasdaq comp' was most resilient.

The Nasdaq comp' broke a new hist' high. 

Four indexes have negative weekly momentum, the two exceptions being the SPX and Nasdaq.

Looking ahead

It will be a short 3.5 trading day week. I'd keep in mind many world markets will remain closed on Dec'26th.

Earnings:

M - $AVXL $LMNX

T - *EARLY CLOSING, 1pm EST*

W - *CLOSED for Christmas day*

T - -

F - -

-

Econ-data/events

M - Consumer confidence

T -  Durable goods orders, new home sales, *EARLY CLOSING, 1pm EST*

W - *CLOSED for Christmas day*

T - Weekly jobs

F - Intl' trade, retail/wholesale inventories

-

       Winter Solstice
 
Final note

There are just 5.5 trading days left of the year, and I'll leave it at that.


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
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*the next post on this page will likely appear 4.20pm EST on Monday.

Thursday, 19 December 2024

Weak bounce

US equity indexes mostly closed on a weak note, SPX -5pts (0.1%) at 5867. Nasdaq comp' -0.1%. Dow +0.04%. The Transports settled -0.6%. R2K -0.4%

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, but it was just a weak bounce after Wednesday afternoon's smack down. Price action was shaky across the day, with weakening into the close, the SPX settling fractionally lower at 5867.

Volatility was knocked lower, the VIX printing a low of 20.16, but settling -12.8% to 24.09.
-

 

Winter Solstice is this Saturday
 

Yours truly will die alone in the shadows


Extra charts in AH (usually around 5pm EST) @ https://x.com/Trading_Sunset

Goodnight from London
--

 

If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Wednesday, 18 December 2024

Post rate cut horror

US equity indexes closed powerfully lower, SPX -178pts (2.9%) at 5872. Nasdaq comp' -3.6%. Dow -2.6%. The Transports settled -2.8%. R2K -4.4%

SPX - daily

VIX - daily

Summary

US equity indexes opened a little mixed, with a little push upward, the SPX printing 6070, just 29pts shy of the recent hist' high. There was a natural holding pattern... the Powell duly arriving at 2.30pm...

 

"The economy is strong overall"

Powell effectively touted #everythingsfine , and despite rate cut'3 of -25bps, the market took a dive. 

Call it a s/t washout, call it whatever you want, but as I've said for years... 'good luck with your rate cuts', which are the ultimate equity sell signal.

With equities diving, volatility spiked the VIX printing 28.32, and settling +74.0% at 27.62 


Extra charts in AH (usually around 5pm EST) @ https://x.com/Trading_Sunset

Goodnight from London
--

 

If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com