US equity indexes closed powerfully lower, SPX -121pts (2.8%) at 4271. Nasdaq comp’ -2.5%. Dow -2.8%. The Transports settled -2.2%. R2K -2.6%.
sp’60min
Summary
closing hour action: choppy, but leaning upward, partly helped by CNBC rolling on the Fed’s Mester, who touted 75bps isn’t necessary. Yet.. the minor bounce failed, swinging back lower to break a new intraday low of 4267.
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… and that concludes the week. We started positive the week positive, but it ended on an outright ugly note. Whether you want to blame the various fed officials this week, or something else… the daily/weekly candles offer zero sign of a floor.
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notable stock: COIN
The m/t horror continues, as psy’ $100 is on track.
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notable bond ETF: TLT
Bonds leaning weak into the weekend, as yields are still broadly climbing.
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notable bank: BAC
Banks whacked lower with the main market. Major support psy’ $30… some 23% lower.
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A chilly and cloudy evening in the London metropolis.
Wherever you are on planet Krazy, have a good evening!
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more later on the VIX and Indexes by 6pm EST