sp'daily5
VIX'daily3
Summary
Equities opened in minor chop mode, but with the bears still powerless after the dovish Fed/Powell, the market resumed upward, and broke a new cycle high of sp'2708. The afternoon saw weak chop.
Volatility broke a new cycle low, settling in the 16s.
In AH... news of Trump with the Chinese vice-premier...
Even if a trade agreement is reached in Feb/March, whilst it would likely be a s/t boost to equity prices, it will do nothing of any significance to stall the global econ-cooling. Neither will further threats of QT adjustment or no more rate hikes from Print Central.
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Goodnight from London
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