US equity indexes closed on a weak note, SPX -29pts (0.6%) at 4537. Nasdaq comp' -0.5%. Dow -0.7%. The Transports settled -1.3%. R2K -1.3%
SPX - daily
VIX - daily
Summary
US equities opened broadly higher, partly on META, partly on 'fine' GDP and weekly jobs data. The SPX printed a new multi-month high of 4607. From there, a very significant downside reversal, printing 4528, and settling at 4537.
Volatility was very mixed, the VIX printing 12.84, but spiking to 14.55, and settling +9.2% to 14.41.
Today's reversal is the most dynamic price action since March 22nd.
It doesn't merit any hysteria, but it does merit some reflection.
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