US equity indexes closed significantly lower, SPX -44pts (1.0%) at 4304. Nasdaq comp' -1.2%. Dow -1.4%. The Transports settled -1.6%. R2K -1.4%.
SPX - daily
VIX - daily
Summary
The US market remains broken. Whilst overnight very significant declines were almost entirely reversed by the Tuesday open, the sellers did appear, with the SPX sliding to 4267.
Biden announced sanctions against Russia, but they were minor, and the market used it as an excuse to bounce into the closing hour, if still settling significantly lower.
The VIX printed 31.53 around 2pm, if cooling back to settle +3.8% to 28.81. Whilst the s/t cyclical setup favours the equity bulls, this market IS broken, and headed far lower into the spring.
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| Another day closer to spring |
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Goodnight
from London
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