Wednesday 2 June 2021

AMC in the twilight zone

US equity indexes mostly closed fractionally higher, SPX +6pts (0.1%) at 4208. Nasdaq comp' +0.1%. Dow +0.1%. The Transports settled -1.0%.

SPX - daily5

VIX - daily3

Summary

It was a day of considerable equity chop.

Meanwhile...

AMC, daily

An incredible day for the lunatics of Wallstreetbets, who drove AMC to a new historic high of $72.62. Its obviously a hyper bubble, and clearly... can't possibly end well. 

The afternoon saw equities remain in micro chop mode, leaning fractionally higher into the close.

Volatility was subdued, the VIX settling -2.3% to 17.48.

Tomorrow is a Thursday, so maybe expect at least somewhat more 'dynamic' price action. 


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

Goodnight from London
--


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