Wednesday 12 September 2018

Midweek moderate swings

US equity indexes closed a little mixed, sp +1pt at 2888. The two leaders - Trans/R2K, settled -0.2% and -0.1% respectively. VIX settled -0.6% at 13.14. Near term outlook offers upside to the 2900s before the weekend.


sp'daily5



VIX'daily3



Summary

US equities opened in minor chop mode, and stayed that way for almost the entire day. There were a few sporadic swings, notably due to renewed chatter of US/China trade talks. That issue is probably not going to be resolved until November.

Volatility was naturally subdued, with the VIX churning in the 13/12s.
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Bonus, China, monthly


The Wednesday session saw a new low for the year of 2647, with the Shanghai comp' currently -2.5% for the month. Not pretty, and its clearly a drag for US listed stocks such as BABA, BIDU, JD, and TCEHY.
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Ten days until Autumn
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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