sp'daily5
VIX'daily3
Summary
US equities opened on a positive note, but the SPX got stuck at 2898, notably 2pts shy of the key 2900 threshold. There was cooling into early afternoon, with a low of 2860, with late day chop to settle at 2869.
Meanwhile...
After his weekend break at the G7 in France, it sure didn't take long for Trump to resume the attacks on the Fed. The US President has his designated scapegoat for any degree of equity downside, never mind a possible recession.
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Volatility saw an early low of VIX 18.49, but then swung to 21.04, and settling +5.1% at 20.31. S/t outlook offers an equity brick wall around sp'2900. Another challenge to break the recent low of sp'2822 is on the menu.
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Goodnight from London
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