US equities opened a little choppy, but jumped higher on....
Equities built significant gains into the early afternoon to sp'2948, with a little cooling to settle at 2938. Volatility cooled for a second day, with the VIX settling -5.7% at 17.57.
Whilst we've now seen two days of gains, the market does look vulnerable into the weekend. The s/t outlook threatens an ugly end to the week. Clearly, that will be largely dependent on how the US/China trade talks end. Yours truly would hear alarm bells if the VIX settles the week above the key 20 threshold.
|Descending into the land of BREXIT chaos|
|A fine autumnal evening|
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Goodnight from London
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