Friday 14 December 2018

Falling into the weekend

US equity indexes closed very significantly lower, sp -50pts (1.9%) at 2599. Nasdaq comp' -2.3% at 6910. The two leaders - Trans/R2K, settled -1.6% and -1.5% respectively. VIX settled +4.7% at 21.63.




US equities opened significantly lower, pressured via overnight Asian and European markets, all of which were spooked by some weaker than expected econ-data. The closing hour broke a new intraday low of 2593, as many were (understandably) unwilling to get involved ahead of the weekend.

Volatility settled moderately higher in the mid 21s. Relative to equities, the VIX remains bizarrely low, and arguably should be well north of 30.

Bonus chart: Germany, monthly

The DAX is lower for a fifth consecutive month, currently -2.9% at 10924. Psy'10K support, but a grander run to 8k appears on track. The German market and economy bodes very bad for the rest of the European markets/economies in 2019.

Winter solstice is near
Extra charts in AH (usually around 7pm EST) @

Goodnight from London
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