US equity indexes mostly closed on a weak note, SPX -7pts (0.2%) at 4130. Nasdaq comp' +0.2%. Dow -0.7%. The Transports settled -0.6%. R2K -0.8%.
SPX - daily
VIX - daily
Summary
US equities opened on a weak note, but then... it was a Thursday.
Meanwhile...the mouse of Disney was smashed lower by -9% to the $91s. News that DisneyPlus lost four million subscribers in Q1 surprised the mainstream cheerleaders and many of the 'smart guys'.
After all, how could anyone have expected that with high inflation, and a slowing economy, that US/global consumers might cut back on TV subscription services?
Disney settled the day -8.7% at $92.31. The stock has been under performing its parent index of the Dow, and the main market since it peaked at $203.02 in March 2021.
Support $84s, and then the March 2020 $79s. Below there... its open air to the lower monthly bollinger, currently in the $68s. If you believe the main market will get cut in half with 'panic and capitulation', then Disney could be expected to decline to at least psy' $50, if not the $40s.
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Equities cooled, but all the bears could manage was sp'4109, with a choppy recovery into the afternoon, and settling a little lower at 4130.
Volatility was a little mixed, the VIX printing 18.19, but cooling back to settle -0.1% at 16.93.
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Goodnight
from London
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