US equity indexes closed significantly higher, SPX +48pts (1.2%) at 4072. Nasdaq comp' +1.1%. Dow +1.0%. The Transports settled +3.1%. R2K +1.4%
SPX - daily
VIX - daily
Summary
8.30am EST saw...
... as -0.9% and -1.6% equals... fish, elephants, or perhaps... recession!
Who could have seen it coming?
Well, I saw it coming, but hey... I'm not a political hack, a media lackey, or a 'smart guy' like Kevin O'Leary. I'm just a nobody... who is independent and able to provide an original outlook.
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Equities opened in minor chop mode. The bears managed a swing lower to 3992, but the buyers did appear, with the SPX printing a new cycle high in the late afternoon of 4078, which considering the confirmation of recession, was rather impressive.
Volatility was subdued, the VIX settling -3.9% to 22.33.
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| Another day closer to winter 2022/23 |
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Extra charts in AH (usually around 5pm EST) @
https://twitter.com/Trading_Sunset
Goodnight
from London
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