Wednesday, 17 July 2019

Transports whacked

US equity indexes closed on a broadly weak note, sp -19pts (0.6%) at 2984. Nasdaq comp' -0.5%.  Dow -0.4%. The two leaders - Trans/R2K, settled -3.6% and -0.7% respectively.

Transports, daily



VIX'daily3



Summary

Whilst the broader market leaned weak, the Transports was powerfully lower on Wednesday, dragged lower by CSX. The irony is that the double miss in EPS/Rev' was only marginal, earnings weren't that bad. The closing hour saw equities break a new intraday low, and that was before the massive miss in Netflix subscriber growth!

Volatility remains subdued, with the VIX settling 8.6% at 13.97. The s/t cyclical setup favours the bulls, although the bigger daily equity and VIX cycles both threaten sig' downside into next week.
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Goodnight from London
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Tuesday, 16 July 2019

Trade concerns

US equity indexes closed rather mixed, sp -10pts (0.3%) at 3004. Nasdaq comp' -0.4%. The two leaders - Trans/R2K, settled +1.8% and u/c respectively.

sp'daily5



VIX'daily3



Summary

US equities opened in minor chop mode, although it was still enough to see the Dow break a new historic high. The market turned moderately lower in the lunchtime hour, as Trump again threatened to increase tariffs on Chinese goods. The afternoon saw a minor recovery, but still settling on a weak note.

Volatility remained subdued, with the VIX settling +1.4% at 12.86. Whilst the s/t cyclical setup will favour the bulls on Wednesday, Thursday should lean to the bears.
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Sunset ahead of a lunar eclipse
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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Monday, 15 July 2019

Q2 earnings begin

US equity indexes closed a little mixed, sp +0.5pts 3014. Nasdaq comp' +0.2%. Dow +0.1%. The two leaders - Trans/R2K, settled -0.3% and -0.5% respectively.

sp'daily5



VIX'daily3



Summary

The week begun on a mixed note, early minor gains to new historic highs in the SPX, Dow, and Nas', but there wasn't any follow through, with prices leaning a touch weak into the afternoon.
Volatility churned in the 12/13s, with the VIX settling +2.3% at 12.68.

Meanwhile...


It would be unusual if Trump wasn't taking a swipe at the fed, at least once within a weekend.
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Another lucky group departing the UK

A fine summer's evening
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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For details and the latest offers, see: permabeardoomster.com