The Biden market concludes

US equity indexes mostly closed broadly higher, SPX +59pts (1.0%) at 5996. Nasdaq comp' +1.5%. Dow +0.8%. The Transports settled -1.0%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities opened broadly higher, with the SPX battling upward to 6014, and settling at 5996.

Volatility was naturally ground lower into the long weekend, the VIX settling -3.8% to 15.97

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Goodnight from London
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Lynchian consolidation

US equity indexes closed mixed, SPX -12pts (0.2%) at 5937. Nasdaq comp' -0.9%. Dow -0.2%. The Transports settled +1.0%. R2K +0.2%

SPX - daily

 

VIX - daily

Summary

US equities opened in minor chop mode, and remained that way across the day. Equity bulls can argue price action was bullish consolidation, ahead of another wave higher, if not until next Tuesday. 

Volatility was a little higher, the VIX settling +3.0% to 16.60
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Extra charts in AH (usually around 5pm EST) @ https://x.com/Trading_Sunset

Goodnight from London
--

 

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Bullish CPI

US equity indexes closed very significantly higher, SPX +107pts (1.8%) at 5949. Nasdaq comp' +2.4%. Dow +1.6%. The Transports settled +1.0%. R2K +2.0%

SPX - daily

VIX - daily

Summary

The day began with the latest CPI data...

Headline y/y: 2.9% vs 2.7% prior
Core y/y: 3.2% vs 3.3% prior

Mr Market saw that as #everythingisfine, with the SPX opening very significantly higher, printing 5950. There was cooling to 5916, with another push upward to 5960, and settling at 5949. 

Volatility was duly crushed, the VIX settling -13.8% to 16.12.

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

Goodnight from London
--

 

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