sp'daily5
VIX'daily3
Summary
US equities opened a little choppy, but jumped higher on....
Equities built significant gains into the early afternoon to sp'2948, with a little cooling to settle at 2938. Volatility cooled for a second day, with the VIX settling -5.7% at 17.57.
Vulnerable market
Whilst we've now seen two days of gains, the market does look vulnerable into the weekend. The s/t outlook threatens an ugly end to the week. Clearly, that will be largely dependent on how the US/China trade talks end. Yours truly would hear alarm bells if the VIX settles the week above the key 20 threshold.
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| Descending into the land of BREXIT chaos |
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| A fine autumnal evening |
Extra charts in AH (usually around 5pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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