Saturday, April 4, 2026 
Market Rap 25 September 2009
The S&P cash index closed lower by 6.40 points or .61% at 1044.38. The S&P mini futures contract closed at 1041.00 — 4.75 points off it’s low print of 1036.25, which was printed just after 10AM PST.
ES - 15 Minute
Overnight, credit spreads in Asia were wider by 9% on bearish news out of Aiful as well as a 30% dilutive secondary offering out of Nomura Holdings (8604.TSE). In the states, credit spreads were wider across the board. Default swaps were active with about 7 wideners to every tightener.
Gold came into the week at $1,006.15/oz. and closed slightly lower at $991.35/oz. Crude oil closed a tad higher today, but lower on the week to settle at $65.05. Crude has broken lower out of consolidation in what could be a harbinger of further weakness in the near term.
Crude Oil - Weekly
Research In Motion closed lower by 17% at $68.91, just above it’s low print of $68.47.
The $VIX closed at 25.61, up 2.65% on the day.
I’d sum up this week’s trade in equities as mildly distributive. I saw evidence of defensive posturing (risk aversion) amongst traders. In order for the sell-off to gain momentum, we will need a catalyst. What that catalyst could be is yet to be known. The situation will continue to be monitored and the beat will go on.
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Comment by Ashraf Hamdan — October 20, 2009 @ 7:05 am
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