Tuesday 5 September 2017

Broadly weak

US equity indexes closed broadly weak, sp -18pts at 2457. The two leaders - Trans/R2K, both settled lower by around -1.0%. VIX settled +20.7% at 12.23. Near term outlook offers a bounce to sp'2470, before renewed sig' weakness to the 2430/20s.




*stockcharts went offline this afternoon, as some road construction took out their lines... hence today's unusual charts.

US equities opened just a little lower, and slid into the early afternoon, flooring at sp'2446. This morning's opening gap of 2470/76 arguably needs to be at least partly hit, before a better chance of the 2430/20s before the weekend.

Market volatility opened sig' higher, and climbed into the early afternoon (intra high 14.06). With equities recovering in the afternoon, the VIX cooled back to the low 12s. If sp'2470, that should equate to VIX 11.50 or so. Considering an array of simmering issues, the key 20 threshold will probably be seen by early October.

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Goodnight from London