US equity indexes closed very significantly lower, SPX -55pts (1.5%) at 3700. Nasdaq comp' -1.5%. Dow -1.2%. The Transports settled -2.2%.
sp'daily5
VIX'daily3
Summary
US equities began the trading year on a moderately positive note, with the SPX printing a new historic high of 3769.99. The gains were shaky from the start though, with indexes quickly turning negative...and spiraling lower into the afternoon.
Talk of increased lockdown restrictions (not least within the UK and Europe) sure didn't help...
Meanwhile...
.... inspiring yours truly...
My guess? I'd imagine Jack is having a VERY long conversation with the CCP. Rather than breaking rocks in the mountains, I'd see the communists as just 'disappearing' Ma, for his push back against Xi and the party.
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The afternoon saw a low of 3662, a recovery to psy'3708, and settling at 3700. Further downside to around 3600 appears probable.
Volatility soared, the VIX printing 29.19, and settling +18.5% to 26.97.
*I will merely add... Wednesday threatens a very major upset, and the cautious will be on a semi-war footing.
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Goodnight
from London
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