Thursday, 19 May 2022

Choppy Thursday

US equity indexes mostly closed on a weak note, SPX -22pts (0.6%) at 3900. Nasdaq comp' -0.3%. Dow -0.7%. The Transports settled -1.8%. R2K +0.2%.

SPX - daily

VIX - daily

Summary

US equities opened on a broadly weak note, with the SPX printing an early low of 3876.

Meanwhile...

"Why did he say that, why did he say that?" - the Cramer on Powell


The lower that equities fall, the more the mainstream cheerleaders are getting annoyed with Powell. Cramer wants a 'shock' rate hike of 100bps (or so), but Mr Market wouldn't like that. In any case... we can expect more clenched fists into the summer.

The afternoon saw considerable chop, if leaning on the weaker side.

Volatility cooled back, the VIX settling -5.2% to 29.35.
-

The giant of the skies
 

A fine day in May

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