Friday, 23 August 2024

Powell inspired gains

US equity indexes closed significantly higher, SPX +63pts (1.1%) at 5634. Nasdaq comp' +1.5%. Dow +1.1%. The Transports settled +1.6%. R2K +3.2%

SPX - daily

VIX - daily

Summary

US equities opened moderately higher. The Powell duly appeared at 10am...

The CEO of Print Central

US equities saw a burst higher with the release of the speech, the SPX printing 5641. However, once Powell finished, the market cooled to 5595. There were a few other swings, if settling sig' higher to 5634.

Volatility was mixed, the VIX printing an early low of 15.96, spiking to 17.12, but cooling back to settling -9.6% to 15.86.


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

Goodnight from London
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