Friday 7 June 2024

Good news is bad news

US equity indexes closed on a weak note, SPX -5pts (0.1%) at 5346. Nasdaq comp' -0.2%. Dow -0.2%. The Transports settled -0.3%. R2K -1.1%

SPX - daily

VIX - daily

Summary

With the monthly jobs data coming in better than expected, US equities opened on a weak note, as 'good news is bad news'. However, all the bears could muster was 5331, with the SPX quickly swinging upward to print yet another new hist' high of 5370.

Meanwhile... the Roaring Kitty returned to Youtube, and rather bravely shared his portfolio, which is 95% Gamestop related.


Full live stream replay...


If anything, he seems genuine. How he deals with intraday losses of $250M... I don't know. I guess its all relative. Or maybe he is just recklessly crazy?

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The afternoon saw the SPX print yet another new hist' high of 5375, if cooling back to settle fractionally lower at 5346. Volatility was ground lower into the weekend, the VIX settling -2.9% to 12.22.


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

Goodnight from London
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