Wednesday 25 July 2018

Late day surge

US equity indexes closed broadly higher, sp +25pts (0.9%) at 2846. The two leaders - Trans/R2K, settled +2.3% and +0.3% respectively. Near term outlook offers a cooling wave before the weekend, but anything <2800 looks overly difficult, even with a looming full-blood moon!


sp'daily5



VIX'daily3



Summary

It was mostly just another day of minor chop... leaning on the positive side. Yet, the closing hour saw news of EU trade concessions, and the market saw a hyper spike to 2848, a mere 24pts shy of the January historic high.Volatility was naturally subdued, with the VIX cooling for a fourth day, settling in the low 12s.
--

Bonus chart: Brazil, monthly


After a rough May/June, the Bovespa is currently +10.2%. It does bode indirectly bullish for other world markets.
--

Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
--
If you value my work, subscribe to me.
For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html