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!




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) @

Goodnight from London
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