Another failed bounce

US equity indexes closed broadly lower, SPX -50pts (1.1%) at 4482. Nasdaq comp' -1.3%. Dow -0.9%. The Transports settled -0.4%. R2K -1.8%.

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, with the SPX pushing to 4602. From there... the market started to lean back lower... not helped by chatter that Peloton is looking to halt production. The afternoon saw a powerful swing lower, with the market turning broadly negative... but then... it was a Thursday.

Volatility was subdued until the late afternoon, the VIX settling +7.3% to 25.59.

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Goodnight from London
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Failed bounce

US equity indexes closed broadly lower, SPX -44pts (1.0%) at 4532. Nasdaq comp' -1.1%. Dow -1.0%. The Transports settled -0.4%. R2K -1.6%.

SPX - daily

VIX - daily

Summary

US equities opened a little higher, but all the bulls could manage was 4611, before the market swung lower. The afternoon saw considerable chop, but leaning on the weaker side, with a pretty ugly closing hour

Volatility remains elevated, the VIX settling +4.6% to 23.85. We're yet to see equity 'capitulation', and VIX could easily spike into the 30s if sp'4400s.

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Rays of hope

A glimpse of golden sunshine

The waning moon

 

Max zoom... 332x (Nikon P950)

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Goodnight from London
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Rough start

US equity indexes closed very significantly lower, SPX -85pts (1.8%) at 4577. Nasdaq comp' -2.6%. Dow -1.5%. The Transports settled -1.6%. R2K -3.0%

SPX - daily

VIX - daily

Summary

US equities opened significantly lower, and whilst there were repeated bounce attempts, the market settled sig' lower. Volatility picked up, the VIX settling +18.8% to 22.79.

I will merely add, today's close in the Nasdaq comp' under its 200dma merits alarm bells. We can expect further market drama across the next week or two.
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Grey horror

–

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

Goodnight from London
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