Thursday, 1 August 2024

Post Powell reversal

US equity indexes closed very significantly lower, SPX -75pts (1.4%) at 5446. Nasdaq comp' -2.3%. Dow -1.2%. The Transports settled -1.7%. R2K -3.3%

SPX - daily

VIX - daily

Summary

US equities opened moderately higher, with the SPX printing an early high of 5566. There was a rather powerful downside reversal, printing 5410, and settling at 5446.

Volatility was very mixed, the VIX printing an opening low of 15.95, but spiking to 19.48, and settling +13.6% at 18.59.
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Its a sign


More green than the indexes


Sunset after the storm


When the sun is low... you can discern some spots without a filter

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