US equity indexes closed broadly lower, SPX -42pts (1.0%) at 3970. Nasdaq comp' -1.7%. Dow -1.0%. The Transports settled -0.5%. R2K -0.9%
SPX - daily
VIX - daily
Summary
US equities opened significantly lower, after hotter than expected PCE/inflation data. The SPX broke a new cycle low of 3943, just a few points above the daily 200MA and the monthly 10MA. From there... a recovery, if very choppy into the late afternoon, settling at 3970.
Volatility didn't mirror the lower low in equities with a higher high, instead the VIX only printed 22.90, and cooling back to settle +2.5% to 21.67.
Today was notably the release date for 'Cocaine Bear'...
Its clearly a 'sign'.
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| A naturally chilly winter's day |
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| Next full moon... March 7th |
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Goodnight
from London
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