Wednesday 21 September 2022

Broadly weak

US equity indexes closed broadly lower, SPX -43pts (1.1%) at 3855. Nasdaq comp' -0.9%. Dow -1.0%. The Transports settled -2.3%. R2K -1.3%.

SPX - daily

VIX - daily

Summary

US equities opened broadly lower, with the SPX printing 3843, just six points above yesterday's low. The afternoon saw a mini ramp... much like Monday. Still though, the US equity market remains broadly weak. Support 3700, and then 3400/3200 zone. The latter could be seen far sooner than many are considering.

Volatility picked up, the VIX settling +5.4% to 27.16.
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