Monday, 22 April 2019

Easter Monday

US equity indexes closed a little mixed, sp +2.9pts (0.1%) at 2908. Dow -0.2%. Nasdaq comp' +0.2%. The two leaders - Trans/R2K, settled -0.1% and -0.4% respectively.

sp'daily5



VIX'daily3



Summary

Suffice to note, whilst many other markets were closed for Easter Monday, US equities saw a day of very subdued chop. Volatility did briefly pop into the 13s at the open, but then melted back lower, to settle in the mid 12s. Tuesday can only be more lively, not least as a truck load of earnings are set to pour in.
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For most, it was another day off.
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Goodnight from London
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Friday, 19 April 2019

Weekend update - US equity indexes

It was a mixed week for US equity indexes, with net weekly changes ranging from +0.7% (Trans), +0.6% (Dow), +0.2% (Nasdaq comp'), +0.1% (SPX), -0.4% (NYSE comp'), to -1.2% (R2K).


Lets take our regular look at six of the main US indexes

sp'500


The SPX saw a net weekly decline of -2pts (0.1%) to 2905. The bulls did break a new multi-month high of 2918, with a Thursday morning low of 2891. MACD (blue bar histogram) cycle remains at very elevated levels, with the market vulnerable to a sporadic and brief mini washout. New historic highs appear probable in May.


Nasdaq comp'


The Nasdaq comp' settled +13pts (0.2%) to 7998, having broken a new cycle high of 8052, a mere 135pts (1.7%) shy of the Aug'2018 historic high of 8133.


Dow


The mighty Dow settled +147pts (0.6%) to 26559, just 392pts shy of the Oct'2018 historic high of 26951.


NYSE comp'


The master index cooled by a moderate -46pts (0.4%) to 12922.


R2K


The R2K was the laggard this week, settling -19pts (1.2%) to 1565. The Russell is clearly struggling to break above the Feb' high of 1602.


Trans


The 'old leader' - Transports, lead the way higher this week, settling +76pts (0.7%) to 10988. Its notable that this week did break above (if briefly) the Dec' high of 11044. Recent earnings from CSX and UAL were fine, and especially impressive considering WTIC/fuel prices in Q1.



Summary

Four indexes settled net higher for the week, with two net lower.

The Transports lead the way upward, whilst the R2K was the laggard.

YTD price performance:


The Nasdaq comp' continues to lead the way this year, currently +20.5%, with the Transports +19.8%. The R2K is 16.1%, the SPX +15.9%, and the Dow +13.9%. The NYSE comp' is lagging, but still higher by a respectable +13.6%.
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Looking ahead 

There is a veritable truck load of earnings...

M - HAL
T - TWTR, VZ, LMT, SNAP, KO, PG, UTX, EBAY, AMTD
W - BA, T, CAT, FB, MSFT, TSLA, V, PYPL, CMG, LRCX, XLNX
T - ABBV, UPS, LUV, MMM, F, AMZN, INTC, SBUX, GRUB
F - AAL, XOM, CVX, SNE


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M - Existing home sales
T - FHFA house price index, new home sales, Rich' fed
W - EIA Pet' report
T - Weekly jobs, durable goods orders
F - GDP Q1 (first print), consumer sent'.
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Enjoy the Easter break :)
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*the next post on this page will likely appear 5pm EDT on Monday.

Thursday, 18 April 2019

Into the Easter Break

US equity indexes settled the short week on a mostly positive note, sp +4pts (0.2%) at 2905. Dow +0.4%. Nasdaq comp' +2pts. The two leaders - Trans/R2K, settled +0.5% and -0.1% respectively.

sp'daily5



VIX'daily3



Summary

It was day of mostly minor chop for equities, seeing an early low of sp'2891, but then clawing back upward into the late afternoon. Volatility was naturally subdued, with the VIX settling -4.0% at 12.09.

*today's price action doesn't fully negate a daily cyclical setup which threatens an overdue 1-2 day mini washout.
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Ascending into the Easter break

Hazy skies to end a warm day

Almost full
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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