sp'daily5
VIX'daily3
Summary
The day began with pre-market trade chatter from the Trump...
... that helped give futures a kick upward, with US equities opening in moderate chop mode, and that was how it remained for the day.
Volatility remained relative elevated, seeing a high of 21.71, but settling +0.4% at 19.40.
Thursday will inherently favour the equity bears, as does the s/t cyclical setup. There is support with the 50dma at 2858, and a legacy gap of 2848/34. Its entirely possible we see down wave to the latter by late Thurs/early Friday, but still hyper surging on 'positive trade news' into the Friday close. For the record, I do expect some kind of US/China trade agreement, not that it matters to the US/global economy. There are a great many grander issues than tariffs.
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| Into the unknown |
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| Turbulent skies for a turbulent market |
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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