Thursday 18 July 2024

Thursday downside reversal

US equity indexes closed broadly lower, SPX -43pts (0.8%) at 5544. Nasdaq comp' -0.7%. Dow -1.3%. The Transports settled -1.8%. R2K -1.9%

SPX - daily

VIX - daily

Summary

US equities opened moderately higher, but the gains were distinctly shaky from the start. There was a significant downside reversal, with the SPX printing a new s/t low of 5522. The late afternoon saw a minor recovery to settle at 5544.

Volatility was mixed, the VIX swinging from an early low of 14.08, spiking to 16.43, and cooling back to settle +10.0% at 15.93.
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24c/75f


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Goodnight from London
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