Wednesday, 4 September 2024

Bearish consolidation

US equity indexes closed a little mixed, SPX -8pts (0.2%) at 5520. Nasdaq comp' -0.3%. Dow +0.1%. The Transports settled +0.4%. R2K -0.2% 

SPX - daily

VIX - daily

Summary

US equities opened a little weak, with the SPX cooling to 5506. From there... an effective bounce from the 50dma to 5552. The afternoon saw renewed cooling to break a new cycle low of 5503, and settling at 5520.

Volatility was a little mixed, the VIX printing a (cash market) high of 22.37, cooling to 19.34, and settling +2.9% at 21.32. 


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

Goodnight from London
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