Thursday 26 April 2018

Strength on earnings

US equity indexes closed broadly higher, sp +27pts (1.0%) at 2666. Nasdaq comp' +1.6% to 7118. The two leaders - Trans/R2K, settled -0.9% and +0.5% respectively. VIX settled -9.0% at 16.24. Near term outlook offers upside into the weekend, lead by tech.




Equities opened moderately higher, and after a somewhat shaky start, the market built significant gains into the afternoon. The mood was notably far lighter within the mainstream, especially in regards to bond yields. Today's strength was further helped as earnings continue to come in beyond superb.

With higher equities, the VIX melted lower, settling in the low 16s.

Considering the market reaction to earnings in AH, especially from INTC and AMZN, Friday will likely open sig' higher. The only uncertainty... the first print for Q1 GDP. If Mr Market likes that number (consensus is for +2.0%), we should see further gains into the weekend.

Whispery spring skies

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

Goodnight from London
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