US equity indexes closed rather mixed, SPX +9pts (0.2%) at 4001. Nasdaq comp' +1.0%. Dow -0.3%. The Transports settled -0.1%. R2K +0.03%.
SPX - daily
VIX - daily
Summary
US equities opened on a positive note, but the gains were shaky from the start. The SPX saw a 110pt swing from 4068 to break a new cycle low of 3958.
The Biden appeared to talk about the reasons for inflation, and arguing that the Democrat's policy is better than the 'Ultra MAGA agenda'. I'd note the prices for WTIC, Sugar, Corn, and Wheat. In one years time, I fear they will be horrifically higher.
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There was a latter day recovery to 4041, but this was also eroded, as some were naturally selling ahead of the CPI.
Volatility remained elevated, reflective of an unstable market, the VIX settling -5.1% to 32.99.
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| A brief break in the clouds |
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| Next full moon is May 16th |
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| Humanity to return within 4-5 yrs? |
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset
Goodnight from London
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