US equity indexes closed very significantly lower, SPX -124pts (2.4%) at 5158. Nasdaq comp’ -2.5%. Dow -2.5%. The Transports settled -2.0%. R2K -1.9%
sp’60min
Summary
closing hour action: leaning upward from the 2pm low of 5101. S/t momentum ticked upward, settling on the moderately low side.
Awaiting earnings from $WRB $AZZ $AGNC $MEDP $FLXS $MCB $BOKF $CADE $CALX $CATY
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… and that concludes a Monday. It was certainly a very bearish start to the week, but the week is young. The s/t cyclical setup favours the bulls, and I expect net weekly gains.
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notable bond yield proxy: TNX
The US 10yr yield printing 4.407%
… as I do NOT expect a rate cut May 7th
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notable bond ETF: TLT
Higher yields > lower bonds
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notable crypto: Bitcoin
Holding up very well to the main market.
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notable crypto: XRP
Mostly just lower with the main market.
An upside break will offer 2.70/80. I HOLD from $2.11
… via a super zoom… from my bedroom.
Have a good evening
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more later on the VIX and Indexes by 6pm EDT