Thursday 24 May 2018

Bad News Thursday

US equity indexes closed rather mixed, sp -5pts (0.2%) at 2727 (intra low 2707). The two leaders - Trans/R2K, settling +1.2% and u/c respectively. VIX settled -0.4% at 12.53. Near term outlook still threatens a mini washout to the sp'2670s, but that would be dropped on a break >2742.




US equities opened a little lower, saw an early minor bounce, but then news that Trump cancelled the June summit with North Korea, saw the market spiral lower.


However, the bad news only spooked the sp'500 to 2707, with yet another subsequent latter day recovery, to settle -0.2% at 2727. Today was day'9 of a tight trading range of 2742/01. Until we break >2742, I'm still a little suspicious the market might want to washout to the 2670s.

Volatility saw a morning high of 14.24, but then cooled for the rest of the day, even settling fractionally lower in the mid 12s.

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

Goodnight from London
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