Wednesday 28 December 2022

Midweek weakness

US equity indexes closed significantly lower, SPX -46pts (1.2%) at 3783. Nasdaq comp' -1.3%. Dow -1.1%. The Transports settled -1.7%. R2K -1.5%.

SPX - daily

VIX - daily

Summary

US equities opened in minor chop mode...  saw a touch of weakness... but then an upside reversal to 3848... if only to fade, broadly slide into the close to print 3780, and settling at 3783. The close under yesterday's low of 3813 makes for a bearish engulfing candle, which doesn't bode so great for a Thursday.

Volatility remained muted, the VIX settling +2.3% to 22.14.


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Goodnight from London
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