Pre-election bounce

US equity indexes closed powerfully higher, sp +46pts @ 2131. The two leaders - Trans/R2K, settled higher by 3.1% and 2.5% respectively. VIX settled -16.9% @ 18.71. Near term outlook offers pre-election price chop, before renewed downside... regardless of who wins the US presidency.


sp'daily5

VIX'daily3

Summary

*its a kooky thought, that the sp'500 is a mere 62pts (2.9%) from the Aug' historic highs.
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After 9 consecutive days of declines, the sp'500 has powerfully rebounded, with one of the strongest gains in some months.

Volatility has naturally been crushed, although relative to the past few months, the VIX is still elevated, as the uncertainty of an election result remains.

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*A special US election post will appear Mon @ 8pm EST. The next market post on these pages will likely not appear until Wed' 7pm EST.