US equity indexes closed very significantly lower SPX -65pts (1.5%) at 4393. Nasdaq comp' -2.1%. Dow -1.0%. The Transports settled -0.3%. R2K -2.3%.
SPX - daily
VIX - daily
Summary
US equities opened on a positive note, with the market distinctly relieved at earnings from TSLA, UAL, AAL, and a few others.
The SPX saw a morning high of 4512, but price spiraled lower... partly for s/t cyclical reasons. Talk from Powell, invoking the Volcker didn't help, or perhaps imerely that it was a Thursday?
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| Ms. Eisen hosting a quartet of monetary maniacs |
The late afternoon was pretty ugly, with the SPX unable to hold the 4400s.
Volatility was mixed, printing 19.81 in early morning, but then climbing into the close, the VIX settling +11.6% to 22.68.
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Meanwhile...
Elite stock picker... the Cramer, argued that if there is a recession, it'll be mild. If that contrarian signal doesn't concern you, I'd suggest you check you still have a pulse.
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Extra charts in AH (usually around 5pm EST) @
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Goodnight
from London
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