US equity indexes closed broadly lower, SPX -47pts (1.1%) at 4400. Nasdaq comp’ -0.9%. Dow -1.1%. The Transports settled -0.8%.
sp’60min
Summary
closing hour action: leaning weak, breaking an intraday low, and taking out Tuesday’s low. Minor yellow gap fully filled. Momentum weakened, having stalled just under the key zero threshold.
*awaiting earnings from NVDA and CSCO.
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… and that concludes Wednesday. It was a second day for the bears, as the market feels tired. Whilst Thursday will favour the bears, every hour closer to Friday’s 4pm OPEX, will lean to increasing chop.
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notable stock: TSLA
Tesla catching a bounce, helped by speculative buyers, ahead of Thursday’s AI event.
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notable energy: XOM
Exxon is fairing better than the sector, still considerably above its 200dma.
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notable bond ETF: TLT
Higher bonds as yields cooled back.
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An uninspiring end to the day.
I hope things are better where you are. Have a good evening.
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more later on the VIX and Indexes by 6pm EST