Tuesday 12 July 2022

The quiet before CPI

US equity indexes closed on a weak note, SPX -35pts (0.9%) at 3819. Nasdaq comp' -0.9%. Dow -0.6%. The Transports settled -0.6%. R2K -0.3%.

SPX - daily

VIX - daily



Summary

US equities saw a trio of early swings, but then slipped into micro chop mode, and remained that way into the mid afternoon. The late afternoon saw a distinct case of the more cautious bulls exiting ahead of CPI-Wednesday.

Volatility was itself muted, the VIX settling +4.3% to 27.29
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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