Friday, 19 May 2023

Post Powell cooling

US equity indexes closed a little weak, SPX -6pts (0.1%) at 4191. Nasdaq comp' -0.2%. Dow -0.3%. The Transports settled -0.7%. R2K -0.6%.

SPX - daily

VIX - daily

Summary

US equities opened moderately higher, with the SPX printing a new high for the year of 4212. The market then churned into 11am... when the Powell appeared...

The Powell, with special guest... the Ben Bernanke


From there, equities cooled, if choppily, settling on a fractionally weak note at 4191.

Volatility was mixed, the VIX printing an early low of 15.90, seeing a mini spike to 17.36, and cooling back to settle +4.7% to 16.81.
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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