Wednesday 22 August 2018

Midweek chop

US equity indexes closed rather mixed, sp -1pt at 2861. Nasdaq comp' +0.4% at 7889. The two leaders - Trans/R2K, settled -1.0% and +0.2% respectively. With the R2K breaking a new historic high today, near term outlook offers the sp'2880s before the weekend.




US equities opened a touch weak on Trump-related political concerns. However, the opening level was around 12pts above the overnight futures low. From an early low of 2856, the market jumped to 2867, before a great deal of afternoon micro chop. Its notable the R2K did break (if only fractionally) a new historic high of 1723.01.

Volatility was notably subdued - especially relative to the overnight mainstream mild hysteria, with the VIX settling in the low 12s.

Another day closer to autumn
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Goodnight from London
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