Post rate cut horror

US equity indexes closed powerfully lower, SPX -178pts (2.9%) at 5872. Nasdaq comp' -3.6%. Dow -2.6%. The Transports settled -2.8%. R2K -4.4%

SPX - daily

VIX - daily

Summary

US equity indexes opened a little mixed, with a little push upward, the SPX printing 6070, just 29pts shy of the recent hist' high. There was a natural holding pattern... the Powell duly arriving at 2.30pm...

 

"The economy is strong overall"

Powell effectively touted #everythingsfine , and despite rate cut'3 of -25bps, the market took a dive. 

Call it a s/t washout, call it whatever you want, but as I've said for years... 'good luck with your rate cuts', which are the ultimate equity sell signal.

With equities diving, volatility spiked the VIX printing 28.32, and settling +74.0% at 27.62 

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

Goodnight from London
--

 

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Downside ahead of the Fed

US equity indexes closed on a broadly weak note, SPX -23pts (0.4%) at 6050. Nasdaq comp' -0.3%. Dow -0.6%. The Transports settled -1.1%. R2K -1.4%

SPX - daily

VIX - daily

Summary

US equities opened a little weak, and despite a few bounce attempts, the SPX printing 6035, and settling at 6050. Volatility picked up, the VIX settling +8.0% to 15.87.

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

Goodnight from London
--

 
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Mostly positive Monday

US equity indexes closed rather mixed, SPX +22pts (0.4%) at 6074. Nasdaq comp' +1.2%. Dow -0.25%. The Transports settled -0.8%. R2K +0.6%

SPX - daily

VIX - daily

Summary

US equity indexes mostly settled on a positive note, with the Nasdaq comp' having broken a new hist' high. Volatility picked up a little, but the gain was mostly due to the new week, the VIX settling +6.4% to 14.69.

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

Goodnight from London
--

 
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Weekend update - US equity indexes

It was a mostly bearish week for US equity indexes, with net weekly changes ranging from -2.4% (R2K), -1.9% (NYSE comp'), -1.8% (Dow), -1.0% (Trans), -0.6% (SPX), to +0.3% (Nasdaq comp').

Lets take our regular look at six of the main US indexes

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

Five US equity indexes were net lower for the week, with one net higher.

The R2K was very significantly lower, whilst the Nasdaq comp' was moderately higher.

The Nasdaq comp' broke a new hist' high.

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Looking ahead

Earnings:

M - $RCAT $MAMA $CMP $QIPT $MITK $RICK

T - $AMTM $REE $HEI

W - $GIS $ABM $BIRK $TTD $JBL $OGI $MU $LEN $MLKN $WS $SCS $EPAC

T - $ACN $DRI $CTAS $PAYX $CAG $KMX $LW $FCEL $NKE $FDX $BB $AVO $SCHL

F - $CCL $WGO

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Econ-data/events

M - Empire State Manu', PMI serv' & manu'

T - Retail sales, indust' prod', home builder conf'

W - Housing starts, building permits, EIA Pet'

*FOMC announcement (2pm), with a press conf' (2.30pm)

T - Weekly jobs, Q3 GDP (print'3) , existing home sales, leading indicators

F - Pers' income/outlays, PCE, consumer sent', *QUAD-OPEX*

-

One week until winter solstice

 

Final note

We've just 10.5 trading days left of 2024, and I'll leave it at that.

If you value my work on Blogger, X, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend
--

*the next post on this page will likely appear 4.20pm EST on Monday.

Lucky thirteen

US equity indexes closed a little mixed, SPX -0.2pts (0.00%) at 6051. Nasdaq comp' +0.1%. Dow -0.2%. The Transports settled -0.8%. R2K -0.7% 

SPX - daily

VIX - daily

Summary

US equities opened a little mixed. The SPX saw an early high of 6078, cooled to 6035, and settling almost precisely flat at 6051. Volatility remained subdued, the VIX settling -0.8% to 13.81.

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

Goodnight from London
--

 

If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Another red Thursday

US equity indexes closed on a weak note, SPX -32pts (0.5%) at 6051. Nasdaq comp' -0.7%. Dow -0.5%. The Transports settled -0.02%. R2K -1.3%

SPX - daily

VIX - daily

Summary

The day began with...

Who would have imagined this... as of the evening of July 13th?

US equities opened moderately lower. There was a bounce into the afternoon, but a secondary wave lower to settle at 6051. 

Volatility picked up a little, the VIX settling +2.5% at 13.92. 

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

Goodnight from London
--

 
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Goldilocks CPI

US equity indexes closed rather mixed, SPX +49pts (0.8%) at 6084. Nasdaq comp' +1.8%. Dow -0.2%. The Transports settled -0.6%. R2K +0.5%

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, with the latest CPI...

Headline y/y: 2.7% vs 2.6% prior
Core y/y: 3.3% vs 3.3% prior

The SPX battled upward to 6092, and settling broadly higher at 6084.

Volatility was ground lower, the VIX settling -4.2% to 13.58. 

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

Goodnight from London
--

 
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Moderate cooling

US equity indexes mostly closed on a weak note, SPX -17pts (0.3%) at 6034. Nasdaq comp' -0.25%. Dow -0.3%. The Transports settled +0.7%. R2K -0.4%

SPX - daily

VIX - daily

Summary

US equities saw considerable chop, if leaning on the weaker side.

Despite lower equities, the VIX still settled red, if only by -0.1% to 14.18.

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

Goodnight from London
--

 
If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Monday cooling

US equity indexes closed moderately lower, SPX -37pts (0.6%) at 6052. Nasdaq comp' -0.6%. Dow -0.5%. The Transports settled -0.4%. R2K -0.5%

SPX - daily

VIX - daily

Summary

US equities opened a little mixed. The SPX saw choppy cooling to 6048, and settling at 6052.

Volatility picked up, although half of the gain was technical, the VIX settling +11.1% to 14.19.

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

Goodnight from London
--

 
If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Weekend update - US equity indexes

It was a mixed week for US equity indexes, with net weekly changes ranging from +3.3% (Nasdaq comp'), +1.0% (SPX), -0.6% (Dow), -0.8% (NYSE comp'), -1.2% (R2K), to -4.2% (Trans).

Lets take our regular look at six of the main US indexes (weekly candle charts)

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

Two US equity indexes were net higher for the week, with four net lower.

The Nasdaq comp' was powerfully higher, whilst the Transports was powerfully lower.

The SPX, Nasdaq comp', and Dow broke new hist' highs.

–

Looking ahead

Earnings:

M - $RENT $MOMO $AI $ORCL $MDB $PL $TOL $BRZE $HQY $MTN $CASY $YEXT

T - $AZO $ASO $OLLI $DBI $FERG $UNFI $JOUT $MNY $GIII $GME $SFIX $PLAY $MAMA $SKIL $SPWH

W - $M $BZ $VRA $CGNT $REVG $PLAB $ADBE $NDSN $OXM

T - LOVE $CIEN $LEE $LQDT $AVGO $COST $RH $NX

F -

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Econ-data/events

M - Wholesale invent'

T - NFIB optimism, Productivity

W - CPI, EIA Pet', US T-budget (2pm)

T - PPI, weekly jobs

F - Import prices

-

Final note

We've sixteen trading days left of 2024, and I'll leave it at that.

If you value my work on Blogger, X, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend
--

*the next post on this page will likely appear 4.20pm EST on Monday.

Net bullish day & week

US equity indexes closed somewhat mixed, SPX +15pts (0.25%) at 6090. Nasdaq comp' +0.8%. Dow -0.3%. The Transports settled -0.6%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities opened in minor chop mode, but once again... the SPX leaned upward to print a new hist' high of 6099. From there... a little cooling to settle at 6090.

Volatility was ground lower into the weekend, the VIX settling -5.7% to 12.77.
-

Example 3408 of 'grey horror'... if a little photoshopped.

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

Goodnight from London
--

 
If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

A red Thursday

US equity indexes closed on a weak note, SPX -11pts (0.2%) at 6075. Nasdaq comp' -0.2%. Dow -0.5%. The Transports settled -1.1%. R2K -1.2%

SPX - daily

VIX - daily

Summary

US equities opened a little mixed, but with the SPX printing a new marginal new hist' high of 6094. The late afternoon saw a little cooling to settle at 6075.

Volatility picked up a little more, the VIX settling +0.7% to 13.54.

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

Goodnight from London
--

 
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Tedious midweek

US equity indexes mostly closed on a positive note, SPX +36pts (0.6%) at 6086. Nasdaq comp' +1.3%. Dow +0.7%. The Transports settled -0.1%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities opened a little higher, with the SPX clawing upward to print yet another new historic high of 6089, and settling at 6086. Volatility was a little mixed, printing a new low of 12.89, but settling +1.1% to 13.45.

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

Goodnight from London
--

 
If you value my work on Blogger, X, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com