US equities opened on a positive note, although yet again, the gains were pretty shaky, with most indexes turning briefly red. Price resumed upward, if very choppy into the early afternoon. The closing hour saw a mini ramp to 2943, and settling +0.6% to 2941.
Volatility was subdued, with the VIX melting lower into the weekend, settling -4.7% at 15.08.
Meanwhile, I present to you, the President of the United States of America...
A note for historic posterity, if anything.
Ohh, and today's Chicago PMI of 49.7 (prior 54.2) does merit recessionary alarm bells. Yes, its just one print under the key 50.0 threshold, but it should spook the mainstream cheerleaders who continue to believe that everything is just fine.
|Another 'too big to fly' monster|
|The sun sets on June, Q2, and H1|
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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