US equity indexes mostly closed broadly lower, SPX -41pts (0.9%) at 4402. Nasdaq comp’ -1.5%. Dow -0.2%. The Transports settled +0.01%. R2K -1.0%
sp’60min
Summary
closing hour action: choppy, but leaning weak to break a new intraday low of 4406. Orange gap filled. S/t momentum ticked lower, settling on the marginally negative side.
*awaiting earnings from FDX and KBH
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… and that concludes a Wednesday. It was a mess of a day, but that is often the case for a Fed day.
The micro 5/15min cycles are VERY oversold.
The hourly could continue lower.
The dailies threaten a test of the August low within 2-3 days.
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notable bond yield proxy: TNX, 60min
Yields failed to break upward. Maybe tomorrow.
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notable stock: SCHW
Another day lower.
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notable stock: SQ
The horror continues for Block.
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Here… a day of grey rainy horror. Appropriate.
Have a good evening
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more later on the VIX and Indexes by 6pm EST