Monday 10 September 2018

Starting positive

US equity indexes closed rather mixed, sp +5pts (0.2%) at 2877. The two leaders - Trans/R2K, settled +1.8% and +0.2% respectively. VIX settled -4.8% at 14.16. Near term outlook offers further upside to new historic highs.




The week began on a somewhat positive note. Whilst there weren't many buyers, there were fewer sellers, and price action was mostly leaning positive. Its notable the 'old leader' - Transports, broke a new historic high of 11576 Volatility was subdued, with the VIX melting to the low 14s.

Bonus chart: China, monthly

China saw an overnight decline of -1.2%, which takes the net monthly change to -2.0%. For now, there is zero sign of a floor/turn.... as the communists don't seem to care.

13 days until Autumn
Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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