US equity indexes closed very significantly lower, SPX -65pts (1.6%) at 3936. Nasdaq comp’ -1.6%. Dow -1.6%. The Transports settled -2.0%. R2K -2.9%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: 4.5hrs of a holding pattern, a Powell induced spike to 4039, but swinging powerfully lower to settle -1.6% to 3936.
Today’s candle is frankly… pretty horrific. Its a monstrously powerful bearish engulfing candle, with an upper spike from around the 50dma.
Considering the size of today’s reversal candle… I’d be open to <3900 early Thursday. Lower bollinger offers the 3850s within 1-4 days.
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NAS: printing 12013, but swinging powerfully lower to settle -1.6% to 11669. Today’s candle is bearish engulfing, and leans distinctly s/t bearish.
R2K: settling -2.9% to 171.54. Any price action <170 would merit alarm bells, and offer a fast and nasty run to challenge the Oct’ low of 161.75.
Trans: printing 14079, but swinging rather powerfully lower to settle -2.0% to 13709. Today’s candle is bearish engulfing, and leans distinctly s/t bearish.
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VIX’daily
Volatility was mixed, the VIX printing 19.94, but settling +4.1% to 22.26. Whilst momentum did tick lower and settled fractionally negative, today’s candle is offering a hyper-spike floor from around the key 20 threshold. The 23/24s look probable on Thursday.
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Looking ahead by 6pm EST