US equity indexes mostly closed significantly lower, SPX -103pts (1.5%) at 6538. Nasdaq comp’ -2.1%. Dow -0.8%. The Transports settled -1.4%. R2K -1.9%
sp’60min
Summary
closing hour action: another swing lower, taking out the Trump-tariff low of 6550. S/t momentum settled on the moderately low side.
Awaiting earnings from $BULL $VEEV $CPRT $GAP $ESTC $UGI $INTU $TEN $POST $ROST
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… and that concludes a Thursday. A positive start, but a powerful downside reversal. The s/t cyclical setup favours the bulls. More broadly… 6200/6100s, that won’t merit any hysteria, but it’d give many a good scare.
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notable bond yield proxy: TNX
Yields were moderately lower, if still stuck around 4.10%
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notable bond ETF: TLT
Lower yields > higher bonds
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notable crypto: Bitcoin
A new multi-month low of 86k
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notable crypto: ETH
-6.3%… taking out support.
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… and that is as close to going out as I got today.
I can’t complain though, I have all the tea, biscuits, and chocolates I need.
Have a good evening
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More later on the VIX and Indexes, by 6pm EST