Thursday 8 November 2018

Post FOMC cooling

US equity indexes closed on a weak note, sp -7pts (0.2%) at 2806. The two leaders - Trans/R2K, settled -0.5% and -0.2% respectively. VIX settled +2.2% at 16.72. Near term outlook offers s/t cooling of 2.5-3.5% ahead of next opex. The grander issue remains how November will settle.




US equities opened a little weak, and saw minor chop into the FOMC announcement. The late afternoon saw a distinct cooling wave, as s/t price momentum now favours the bears.

Volatility saw a new cycle low of 16.09, but then swung upward, settling +2.2% at 16.72. S/t outlook offers equity cooling, with the VIX set to at least test the key 20 threshold.

Meanwhile... (full screen recommended!)

NASA continues to make reasonable progress with the Orion, as part of the SLS program. However, when you consider that SpaceX are re-using their launch vehicles, it makes the SLS program look grossly outdated. see:

Reading around, I see many within the industry believe that we'll likely only see 3 or 4 SLS vehicles ever launched, not least once the SpaceX BFR is launching on a regular basis.

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

Goodnight from London
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