Wednesday 15 August 2018

Strong USD concerns

US equity indexes closed broadly weak, sp -21pts (0.7%) at 2818. The Nasdaq comp' settled -1.2% at 7774. The two leaders - Trans/R2K, settled u/c and -1.3% respectively. Near term outlook offers capitulation in the sp'2760s, before swinging back upward.




US equities opened moderately lower, dragged lower by significant weakness in other world markets. The sp' unravelled to 2802 in early morning, before a series of moderate swings that continued into the late afternoon.

Volatility naturally spiked higher, with the VIX seeing a peak of 16.86, the highest level since July 2nd. There was cooling into the close, with the VIX settling in the mid 14s.

USD, monthly (EOD Aug'15th)

The King of fiat land remains the USD. Note the macd (blue bar histogram) bullish cross, as momentum is now fractionally positive. A move from the DXY 96s to the giant 100 threshold isn't a bold target, given another 2-3 months. If correct, bearish implications... especially for the precious metals... within a rising rate environment. 

Open day

Thursday Aug'16th will be open day at, and for you non-subscribers out there, it will give you an opportunity to follow me across the day. Thursdays tend to be pretty dynamic, so it should be an interesting day, not least with Nvidia earnings due in AH. First post will appear by 8.30am EDT.

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

Goodnight from London
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