[Video]: De-risking sends stocks lower, Palladium gets ‘hammered’

The Dow Jones was the exception which remained near record highs, whilst the Russell 2000 led the way lower overnight.

Downtrend 4


Reports began to surface yesterday that equity selling pressure on Friday may have stemmed from a family office having to liquidate large positions to meet a margin call.

By some estimates the $20 billion margin call of Archegos Capital could be one of (if not the) largest margin calls in history. And as Archegos Capital is a ‘family office’ which is not under the scrutiny of the SEC, it has many wondering if there are more such scenarios lurking in the shadows of an apparent ‘shadow hedge fund industry’.

So in today’s video we check out the Russell 2000 which may have printed an interim top, catch up on palladium after the metal got ‘hammered’. NZD/JPY is also one to watch should sentiment take another turn for the worse, although it may need more evidece of a top with price action first.

S&P 500 (-0.09%) 29 March 2021

  • The index closed -0.32% below its 52-week high
  • 206 (40.79%) stocks advanced and 299 (59.21%) declined
  • Energy (-1.26%) was the strongest sector and Communication Services (1.02%) was the weakest
  • 5 out of the 11 sectors outperformed the index
  • 93.66% of stocks closed above their 200-day average
  • 80.99% of stocks closed above their 50-day average
  • 68.51% of stocks closed above their 20-day average

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