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Broad Risk-Off Weighing On Major Equity Indices

  • US equities fading further in recent trade (again, regional US banks the driver here), E-mini S&P now well south of the overnight low at 4075.50, although not a significant pick up in volumes on the fade for the headline index.
  • No surprise to see financials among the poorest performers in both the S&P 500 as well as the Russell 2000 - within which 1470 names are lower to just 400 higher inside an hour of trade.
  • Latest press lower takes out the 50-dma for the M3 future, opening the lowest levels since late March. 4052.4 undercuts as next support.

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