US equity indexes mostly closed rather powerfully higher, SPX +92pts (2.6%) at 3669. Nasdaq comp' +2.2%. Dow +2.8%. The Transports settled +1.0%. R2K +2.5%.
SPX - daily
VIX - daily
Summary
The SPX was +40pts around 8.29am, but then the latest inflation data appeared...
US equities duly opened very significantly lower, with the SPX printing a new multi-year low of 3491.
Whilst there was a powerful rebound into the mid afternoon, today's break into the 3400s is not to be dismissed lightly.
It should be clear... those calling a key floor today, are the SAME cheerleading clowns who called a key floor yesterday, last week, and last month.
This remains a bear market, and powerful bounces have to be expected along the way.
Volatility cooled back, the VIX settling -4.9% to 31.94.
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| A moody Thursday Oct'13th |
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Goodnight
from London
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