Thursday 27 September 2018

Thursday rebound

US equity indexes closed a little mixed, sp +8pts (0.3%) at 2914. The two leaders - Trans/R2K, settled +0.1% and -0.1% respectively. VIX settled -3.7% at 12.41. Near term outlook offers early Friday cooling to sp'2911/05, before (bullish) window dressing into end month/QE.




After the post rate hike swing lower, US equities opened a little higher, and built broad gains into the afternoon. There was some distinct cooling from an intra high of 2927, with the sp' seeing a net gain of 0.3%. Volatility saw an early high of 12.62 (13.00 pre-market), and then melted lower into the afternoon, settling in the mid 12s.

Bonus chart: Germany, monthly

With just one trading day left of the month, the DAX is currently +0.6% at 12435, and that is an impressive recovery from an intra month low of 11865. I recognise most of you have ZERO interest in other world markets, but the DAX is a key market, and has indirect implications for other EU markets and the US.

A sky of contrails and distrails
Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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