Friday 8 December 2023

New cycle high

US equity indexes mostly closed on a positive note, SPX +18pts (0.4%) at 4604. Nasdaq comp' +0.4%. Dow +0.4%. The Transports settled -0.6%. R2K +0.7%

SPX - daily

VIX - daily

Summary

The day began in pre-market with the monthly jobs report...


The numbers were better than expected, with the market duly seeing good news as bad news. The SPX was lower by -22pts, rebounding to around flat, and opening a little lower. All the bears could manage was 4574, before a rather sharp rebound to print a new cycle high of 4609, and settling at 4604.

Volatility was muted, the VIX ghost printing 13.24, printing a new multi-year low to settle -5.4% to 12.35.


Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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