US equity indexes mostly closed significantly lower, SPX -53pts (1.3%) at 4224. Nasdaq comp' -1.5%. Dow -0.9%. The Transports settled +0.1%. R2K -1.3%
SPX - daily
VIX - daily
Summary
US equities opened a little weak. There was an opening reversal attempt... but it failed, with the SPX resuming lower to print 4230. The market bounced... but it was distinctly weak, maxing out at 4258, with another wave lower to 4223, and settle at 4224.
Volatility was mixed, the VIX printing an early high of 21.83, cooling back to 20.47, and resuming upward to settle +1.4% to 21.71.
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Today's break of m/t rising trend, and the 200dma, merits alarm bells, not least when considered relative to the bigger weekly and monthly cycles. The fact we closed under both... makes it decisive.
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Goodnight
from London
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