Monday, 31 December 2018

2018 wraps up

US equity indexes concluded the year on a positive note, sp +21pts (0.8%) at 2506. Nasdaq comp' +0.8%. Dow +1.1%. The two leaders - Trans/R2K, both settled +0.7%. Near term outlook offers the sp'2625/50 zone, before the next big rollover.




US equities opened on a positive note, helped by further Trump trade chatter. The novelty of such tweets is wearing thin on the market though, with the spx swinging from an early high of 2509 to turn fractionally negative at 2482. The afternoon saw renewed upside, settling at 2506. 

Volatility cooled for a fourth consecutive day, settling in the mid 25s. There is price-cluster and gap-support in the 21/20s... which would arguably sync with the sp'2625/50 zone.

*there will be a post on New Years day, looking back on the original outlook for 2018. My outlook for 2019 will be posted this weekend.
Extra charts in AH (usually around 7pm EST) @

Goodnight from London.. and happy new year!
If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: