Friday 23 November 2018

The absent bulls

US equity indexes closed on a weak note, sp -17pts (0.6%) at 2632. Nasdaq comp' -0.5%. Dow -0.7%. The two leaders - Trans/R2K, both settled u/c. Near term outlook is uncertain, ahead of a weekend of BREXIT related discussions/votes. November remains on track to settle outright bearish.




The week ended on a slightly bearish note, as the equity bulls remained largely absent. Volatility climbed for the 3rd day of 4, with the VIX settling the week above the key 20 threshold. S/t outlook is uncertain, due to weekend issues surrounding BREXIT.

Bonus chart: spx, monthly

With five trading days left of the month, the spx is -79pts (2.9%) at 2632. Note the key 10MA at 2740, some 108pts higher. Its going to be very difficult for the bulls to avoid a second consecutive bearish monthly settlement.

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

Goodnight from London
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