US equity indexes closed moderately mixed, sp +0.2pts at 2546. The two leaders - Trans/R2K, settled +0.4% and -0.1% respectively. Near term outlook offers a Powell/Fed induced spike, but it should be short-lived, as the bigger weekly/monthly cycles are offering the sp'2300/200s.
US equities opened on a moderately positive note, but the gains were shaky from the start, and despite a break of the s/t declining trend in the 12pm hour, the spx turned moderately lower in the late afternoon. The closing hour was pretty wild, settling effectively flat at 2546, making for a black-fail candle, which leans s/t bearish.
Volatility saw some swings, from a low of 23.64 to the 26.14, settling in the mid 25s.
bonus chart: Germany, monthly
The DAX is currently -4.6% at 10740. Support at psy'10k, and then around 8k. Considering the break of l/t trend, an eventual back test of the giant 200/2007 double top looks probable. If correct, very bearish implications for other European markets. Its impossible to not see the US being adversely affected to some significant extent in 2019.
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