Friday 20 January 2017

Awaiting President Trump

US equity indexes closed moderately mixed, sp -8pts @ 2263. The two leaders - Trans/R2K, settled +0.2% and -0.9% respectively. VIX settled +2.4% @ 12.78. Near term outlook offers further chop into the weekend. More broadly, Dow 20k and the sp'2300s remain due before end month.




It was yet another day of chop for US equities. Indeed, we're now in week 6 since the market hit sp'2277 on Dec'13th.

Market volatility is itself naturally very subdued, with today seeing just a brief foray into the low 13s. The key 20 threshold looks out of range until at least mid/late February. It has to be asked, would a 4-5% equity correction even be enough to see VIX spike to 20?

As for Trump...

Screenie.. via Youtube - RSBN

I recognise that whilst half of the US populace are excited for the inauguration, around half of America are dreading tomorrow. To me, there is a gross ignorance in the liberal/democrat community of what Trump is actually about.

Frankly, I am not remotely inclined to try to summarise anything about what is likely ahead, as Trump has already laid it out many times.. across a few hundred rallies/events.

Yours truly - who saw the Trump victory coming... a long... long time ago, is most certainly looking forward to tomorrow. Things are about to get real interesting :)

Goodnight from an icy... but sunny London