US equity indexes closed a little mixed, sp +6pts (0.2%) at 2736. The two leaders - Trans/R2K, settled -0.3% and +0.2% respectively. Near term outlook offers choppy upside ahead of the Thanksgiving break, but then a very bearish wave into end month.
sp'daily5
VIX'daily3
Summary
US equities opened moderately weak, but there wasn't any real selling behind it, and indexes quickly reversed. Trump trade comments directly saw the market spike higher in the 12pm hour, but those gains soon faded. The afternoon saw further chop... carrying into the weekend.
Volatility saw an opening high in the low 21s, and then resumed melt mode, settling in the low 18s.
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Bonus chart: Japan, monthly
The Nikkei is currently net lower for a second month, -1.1% at 21680, sitting on l/t rising trend. A Nov' close <20900s would be decisive, and offer soft support of around 19000. Note price momentum, which is increasingly negative.
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Goodnight from London
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