US equities saw one of the strongest intraday swings in some years. The sp'500 swung from a morning high of 2056... breaking lower to 2008 @ 2.30pm.... clawing higher into the close, settling -5pts @ 2023. The two leaders - Trans/R2K, settled -0.5% and u/c respectively.
sp'60min
R2K, 5min
Summary
*a fractional net gain for the R2K, but still... that was one nasty drop from the earlier high of 1200.
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... without question.... the opening gains were no surprise... but the utter failure of them were.
It was one hell of a day in market land... and price action is now leaning bearish.
Price structure is something of a mess. The one thing bulls still have is that the rising trend - seen on daily charts, is just about holding.
Any break under today's low of 2008, would bode for a move lower to the 200dma... in the mid 1960s.
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With some very dynamic action today... a full set of updates to wrap up the day... across the evening