Wednesday 11 April 2018

Troublesome tweet

US equity indexes closed moderately mixed, sp -14pts (0.5%) at 2642. The two leaders - Trans/R2K, settled -0.3% and +0.2% respectively. Near term outlook offers Thursday weakness, but the sp'2600 threshold should hold.




US equities opened moderately lower, directly pressured via...

Regardless of whatever you might think of the US President, such comments did unquestionably upset the US/world capital markets in early morning. I'll merely add that I see such a tweet as 'troublesome'.

Despite pre-market significant declines, equity bears couldn't manage much of anything, and we even saw some of the indexes turn fractionally higher in early afternoon. There was some natural late afternoon weakness, as some of the more cautious bulls closed out on concerns of possible overnight missile launches.

VIX was pretty subdued across the day, settling lower for a second day, but still broadly holding the key 20 threshold.

The outlook for Thursday leans bearish, but we shouldn't see any price action <2600, where the key 200dma is soon to reach. Earnings - which should be superb, are set to start pouring in this Friday with C, JPM, WFC, and PNC.

Extra charts in AH (usually around 7pm EST) @

Goodnight from London
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