Today we can see that futures on Wall Street indices erases a large part of yesterday gain, driven by 'dovish' Fed (lowering QT; lower GDP projection and higher exp. unemployment rate) and speculative positioning, where gamma option dealers where potentially forced to unwind bearish bets to reverse from a negative gamma.
As for now, US100 falls to 19.750 points after reaching almost 20,100 in the morning, while VIX rebounds almost 4%.Yesterday Fed chair Powell tone was clearly more hawkish than perceived Fed stance, signalling uncertainty not only about future of the US economy but also Fed projections.
On the M15 interval we can see that selling volume on US100 is very high today, especially given the fact, that US session not even started. It's almost as high as the volume traded yesterday, during the Fed & Powell conference. This is an unsual situation for the US100.
Source: xStation5
Daily summary: Weak US data drags markets down, precious metals under pressure again!
US Open: Wall Street rises despite weak retail sales
US2000 near record levels ๐ฝ What does NFIB data show?
Chart of the day ๐ฝ US100 rebound continues as US earnings season delivers