US equity indexes closed rather powerfully lower, SPX -155pts (2.7%) at 5614. Nasdaq comp’ -4.0%. Dow -2.1%. The Transports settled -2.3%. R2K -2.6%
sp’60min
Summary
closing hour action: a new multi-month low of 5564, if seeing a sig’ bounce. S/t momentum ticked back upward, if settling on the low side.
Awaiting earnings from $ORCL $ASAN $PAY $FTK $AUNA $MTN $LCTX $RDW $LFMD $GAIA
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… and that concludes a Monday. It was a very ugly start to the week, with the SPX failing to hold the 200dma. Regardless of how Tuesday opens, s/t bearish… with next support around 5400.
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notable bond yield proxy: TNX
US 10yr yield printing 4.198%
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notable bond ETF: TLT
Lower yields > higher bonds
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notable banking ETF: KRE
Last Friday’s reversal candle failed to play out.
Today’s close <200dma merits broader alarm bells for the spring/summer.
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notable crypto: Bitcoin
A failed bounce… 88K > 77K.
Big support 73K.
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notable crypto stock: MSTR
Testing the 200dma.
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Here… mostly cloudy, an excuse to stay indoors.
Have a good evening
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more later on the VIX and Indexes by 6pm EST