Wednesday, 24 July 2019

Tears in Rain

 US equity indexes closed broadly higher, sp +14pts (0.5%) at 3019. Nasdaq comp' +0.8%. Dow -0.3%.  The two leaders - Trans/R2K, settled +0.5% and +1.6% respectively.




US equities opened moderately weak, but there was an early reversal, with the SPX and Nasdaq comp' breaking new historic highs in the closing hour.

Volatility remained in melt mode, with the VIX settling -4.3% at 12.07. S/t equity price structure is an ascending wedge, and leans to s/t cooling. Tomorrow is Thursday, which inherently leans to the bears. With the ECB in early morning, and further earnings, it should be enough to keep most awake!


Whilst many are focused on the very s/t, JPM's Michele is boldly touting the US 10yr yield to drop to 0.0% percent 'within a few years'. I have to agree with that.

Blade Runner is a personal favourite...

Hauer was a superb actor. He did a man's job. Finished. 

Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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