Wednesday 25 October 2023

Midweek downside

US equity indexes mostly closed very significantly lower, SPX -60pts (1.4%) at 4186. Nasdaq comp' -2.4%. Dow -0.3%. The Transports settled -2.4%. R2K -1.7%

SPX - daily

VIX - daily

Summary

US equities opened moderately lower, with the SPX cooling to 4201. There was a bounce to 4225, but a secondary wave to print a new cycle low of 4181. The late afternoon saw a very choppy bounce to settle at 4186.

Volatility was mixed, the VIX printing 19.97, cooling to 19.26, with a secondary push to 21.24, and cooling back to settle +6.4% to 20.19.
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Goodnight from London
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