US equities opened significantly higher, partly helped via a Trump tweet that 'big announcements are coming' in terms of trade. The spx saw a high of 2674, but the gains eroded to fractional declines, not helped via....
... a very public feisty exchange between Trump and Pelosi/Schumer. Today's event is an early example of the political deadlock that will be one of the key themes in 2019. The spx swung from 2621>2659 in the afternoon, but the closing wasn't pretty, settling effectively u/c at 2636.
Volatility saw relatively minor swings within the 21/23 zone, settling -3.9% at 21.76.
Yours truly continues to see bounces as such. A challenge of the Feb' low of 2532 appears still on the menu. I'd actually only drop that notion if we break and hold >2800. The latter looks very difficult in the remaining 12.5 trading days of the year.
Bonus chart: Japan, monthly
The Nikkei is currently -1203pts (5.4%) at 21148. A monthly close <21k would be decisive, and offer far lower levels in 2019. Five clear waves, and its not entirely a stretch to target 12k.
|Ten days until the winter solstice|
|Full moon due Dec'22nd|
Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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