US equity indexes closed very significantly lower, SPX -73pts (1.8%) at 3918. Nasdaq comp’ -2.0%. Dow -1.6%. The Transports settled -2.0%. R2K -2.8%.
sp’60min
Summary
closing hour action: spiraling lower to print 3908 – the lowest since Jan’20th. S/t momentum ticked lower, settling on the low side.
*awaiting earnings from ORCL, GPS, ULTA, WPM, and a few lesser others.
–
… and that concludes a rather typically red Thursday. Early strength, but… fully fading to turn into an outright ugly day.
Looking around… multiple signs of underlying problems.
The bears could seek a test of the Dec’ low of 3764 next week.
–
notable stock: JPM
Ugly.
–
notable stock: BAC
Really ugly…. on massive sellside vol’
–
notable sector ETF: KRE
As the regional banks saw severe downside, on MONSTROUS sellside vol’
–
Ohh, and as for bond yields…
… were ironically net lower today.
A spike to 5.00%… could sync with sp’3200/3000.
Have a good evening
–
more later on the VIX and Indexes by 6pm EST