Thursday 20 January 2022

Another failed bounce

US equity indexes closed broadly lower, SPX -50pts (1.1%) at 4482. Nasdaq comp' -1.3%. Dow -0.9%. The Transports settled -0.4%. R2K -1.8%.

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, with the SPX pushing to 4602. From there... the market started to lean back lower... not helped by chatter that Peloton is looking to halt production. The afternoon saw a powerful swing lower, with the market turning broadly negative... but then... it was a Thursday.

Volatility was subdued until the late afternoon, the VIX settling +7.3% to 25.59.


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Goodnight from London
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