Late Equity Roundup: Rout Resumes, SPX -2.5%

Late sell-off in SPX eminis accelerated late Tuesday, ESM2 -110.5 to 4182.0, through key support (4195.25 Low Apr 25) on new low for April and putting the index back to mid-March levels.

• Incidentally, CBOE's vol index VIX surged to 32.01 in late trade, 31.71 +4.69 at the moment, back to mid-March levels after tapping year high of 36.45 on March 7. The surge in vol coincided with stocks trading lows for the year (ESM2 4160.50 on March 8).
  • Attention on next key support level of 4129.50 Low Mar 15. Recent weakness has confirmed a resumption of the current downtrend and the outlook remains bearish.
• Earnings after the close: GM, GOOGL, MSFT, TXN, V.
  
• SPX leading/lagging sectors: Modest rebound for Energy sector (+0.35%) after heavy pressure Mon after crude fell. Tue crude bounce tied to Russia intent to cease gas supply to Poland.
  
• Laggers: Consumer Discretionary extends decline (-4.46%) weighed down by autos -- with particular focus on Tesla (-11.00% to 888.24) selling off after Musk's intent to buy Twitter for appr $44B accepted by the board.
  
• Meanwhile, Dow Industrials currently trades -725.8 points (-2.13%) at 33324.31, Nasdaq -465.7 points (-3.6%) at 12540.18.
  
• Dow Industrials Leaders/Laggers: Walgreens/Boots, Dow Inc and Chevron outperform (selling off the least). Laggers: Microsoft -9.07 at 271.65, Boeing -8.69 at 167.22.