US equity indexes closed broadly lower, SPX -43pts (1.1%) at 3852. Nasdaq comp' -1.0%. Dow -0.8%. The Transports settled -1.1%. R2K -0.8%.
SPX - daily
VIX - daily
Summary
US equities opened on a weak note, and whilst there were a few bounce attempts, they were brief and weak, with the SPX spiraling to break a new cycle low of 3827. The mid/late afternoon saw a choppy rally, stalling from around the hourly 10MA.
Volatility was subdued, the VIX settling -0.9% to 22.62.
With a settlement under last week's low of sp'3918, this week's candle was bearish engulfing.
We've the first red Elder candle since October, and its bearish engulfing. The implications are rather massive. More on this... in the weekend post.
-
–
Extra charts in AH (usually around 5pm EST) @
https://twitter.com/Trading_Sunset
Goodnight
from London
--
If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com
