Friday 30 November 2018

Ending November positive

US equity indexes settled the week/month on a positive note, sp +22pts (0.8%) at 2760. Nasdaq comp' +0.8%. Dow +0.7%. The two leaders - Trans/R2K, settled +1.3% and +0.5% respectively. VIX settled -3.8% to 18.07.




US equities opened in minor chop mode, and then made a push upward into/across the afternoon. The closing hour saw some further swings, seeing a micro spike in the final minutes. With equity strength, volatility melted lower, settling in the low 18s.


The spx saw a net monthly gain of 48pts (1.8%). That cancels out the October bearish settlement, and the s/t outlook has to flip to bullish. Even if the Oct' low of 2603 is eventually broken under in Dec' or January, it can no longer be expected to be anything sustained. Today's Chicago PMI of 66.4 was a reminder that the US train is still on the tracks.

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

Goodnight from London
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