Thursday 10 September 2020

Typical Thursday

US equity indexes mostly closed very significantly lower, sp -59pts (1.8%) at 3339. Nasdaq comp' -2.0%. Dow -1.4%. The Transports settled -0.6%.

sp'daily5



VIX'daily3



Summary

US equities opened on a moderately positive note, with the SPX battling to 3425, just 1pt shy of fully filling a recent gap. The gains were always shaky though, and it was not a surprise to see the market turn red by 11am.

The afternoon saw considerable chop, but breaking significantly lower to test the Tuesday 3329s, and then bouncing into the close.

Volatility was mixed, the VIX printing 30.56, and settling +3.1% at 29.71. Today's VIX was NOT reflective of the equity downside. 
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                 7.08pm BST


Summer 2020 is soon to set
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Goodnight from London
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