US equity indexes closed rather mixed, SPX -14pts (0.4%) at 3735. Nasdaq comp' +0.2%. Dow -0.5%. The Transports settled +2.1%. R2K -0.4%.
SPX - daily
VIX - daily
Summary
US equities opened moderately higher, but it only took 14mins for the SPX to turn red.
Meanwhile...
Lebenthal remains reflective of many within the mainstream... still in denial about the recession. The number is smaller each day though, with an increasing number of corporate hiring freezes, or just outright firings with zero notice.
The afternoon saw considerable chop, if with another new cycle low of 3705.
Volatility remains elevated, the VIX settling -3.9% to 32.69. From a pure s/t cyclical perspective, the setup favours the equity bulls ahead of OPEX and the long weekend.
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| One G-type star, and one sundog |
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Goodnight
from London
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