Wednesday 1 August 2018

Midweek Chop

US equity indexes closed moderately mixed, sp -2pts (0.1%) at 2813. The two leaders - Trans/R2K, settled -0.8% and -0.1% respectively. Near term outlook continues to offer technical necessity of 2768, before resuming strongly upward.




US equities opened in minor chop mode, leaning on the positive side. The sp' managed to choppily claw to 2825, but then got stuck just under a few aspects of resistance. There was a moderate rollover into the mid afternoon, before a late afternoon (largely weak) mini ramp. The daily close leans bearish into Thursday.

Volatility continues to increase, with the VIX settling higher for the third day of four. S/t outlook offers the sp'2760s, which would likely equate to VIX 15/16s.

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

Goodnight from London
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