US equity indexes closed powerfully lower, SPX -177pts (4.3%) at 3932. Nasdaq comp' -5.2%. Dow -3.9%. The Transports settled -3.8%. R2K -3.9%.
SPX - daily
VIX - daily
Summary
US equities were moderately higher... until 8.30am EST.
Today's CPI:
Headline y/y: 8.3% vs 8.5% prior.
Ex energy/food y/y: 6.3% vs 5.9% prior.
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In terms of hoping to see someone more wrong than right, the Cramer rarely disappoints.
I have to wonder if the Cramer was as clueless in high school as he is now, as most never make any progress past their late teens.
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Equities opened rather powerfully lower, with the SPX spiraling to 3978. The afternoon saw increasing chop, but that merely formed a baby bear flag, and breaking a new cycle low into the close. On any basis... an especially ugly day. The only hope the bulls have, is for the opening gap (4037/4110) to be tagged by the end of this Friday's quad-opex.
Volatility picked up, the VIX printing 28.15, and settling +14.2% to 27.27.
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Extra charts in AH (usually around 5pm EST) @
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Goodnight
from London
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