Wednesday, 25 April 2018

Midweek swings

US equity indexes closed rather mixed, sp +4pts at 2639. The two leaders - Trans/R2K, settled +1.0% and -0.2% respectively. VIX settled -1.0% at 17.84. Near term outlook still offers weakness to sp'2604, before whipsawing upward into/across May.




US equities opened fractionally higher, but saw an immediate reversal, with a morning low of 2612. From there, a great deal of chop, leaning upward in the afternoon to 2645, and settling at 2639. Near term outlook offers one final wave lower to around 2604, before whipsawing back upward.

Santelli, noting bond yields continue to claw upward

Volatility was choppy, opening at 18.14, and climbing to 19.84, before cooling into the close. Sustained VIX >20 looks unlikely in the near term.

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

Goodnight from London
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