US equity indexes closed SPX -143pts (2.1%) at 6796. Nasdaq comp’ -2.4%. Dow -1.8%. The Transports settled -2.1%. R2K -1.2%
sp’60min
Summary
closing hour action: new intraday low, tagging red gap. S/t momentum settled on the very low side. RSI 23s
Awaiting earnings from $NFLX $UAL $IBKR $PRGS $FNB $HWC $KARO $OZK $ZION $WTFC
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… and that concludes a Tuesday. An ugly start to the short week. The s/t cyclical setup favours the bulls, but the bigger daily charts are highly suggestive of a lower low on Wed’, before bouncing to teal gap.
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notable bond yield proxy: TNX
US 10yr yield sig’ higher, printing 4.311
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notable bond ETF: TLT
Higher yields > lower bonds
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notable crypto: Bitcoin
Dragged down by the main market.
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Have a good evening
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More later on the VIX and Indexes, by 6pm EST