US equity indexes closed rather mixed, SPX +11pts (0.3%) at 3948. Nasdaq comp’ +1.0%. Dow +0.2%. The Transports settled -0.2%. R2K -0.5%.
sp’60min
Summary
closing hour action: a real mess of a closing hour… a bounce to 3960, but breaking a new intraday low of 3919, but then another bounce to 3963. S/t momentum ticked lower, settling on the low side.
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… and that concludes an especially annoying Thursday.
Yesterday’s bearish engulfing (daily) candle played out… but only AFTER a truly dumb morning bounce to 4007 (naturally maxing out around 11am). The fact the late afternoon saw the VIX spike to the 24s, with the SPX turning negative, just makes me even more annoyed.
I guess I wasn’t at least stupid enough to capitulate around sp’4K, and waited for some 30pts of cooling. Now… I just look for another re-short.
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notable stock: COIN
Lower due to the SEC
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notable bank: BAC
A new multi-year low, as someone is in distress out there.
M/t bearish. 16/15s.
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notable fin: SCHW
M/t broken with the sector.
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notable stock: VNO
Another day of horror for Vornado… already near the 2009 lows, as commercial real estate is especially problematic.
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Here… a day of grey, rainy horror, appropriate to my mood.
Have a good evening
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more later on the VIX and Indexes by 6pm EST