sp'daily5
VIX'daily3
Summary
US equities opened on a positive note, but the gains were shaky, with the SPX slipping to 3099 in late morning. The afternoon saw a recovery to minor gains.
Volatility was subdued, with the VIX melting into the weekend, settling -6.0% at 12.34. S/t outlook favours the equity bears. Today's SPX daily candle was black, with s/t price structure of a bear flag. Basic target is the 3050/36 zone, which should equate to a VIX spike to 16/17s.
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Meanwhile...
The following guy didn't seem to know that Tesla usually sells off after a product reveal...
On any basis, its pretty disturbing, as he lost more money on a single trade, than some earn in a low-end job, in an entire year.
As for Tesla's Cybertruck...
Its certainly a provocative design, but maybe they'll make it less boxy, before production is supposed to begin in late 2021.
Corporate lesson of the day: If you're going to test the strength of the glass, do it at the end of the presentation. Seeing Elon stand there, trying to continue in front of a smashed product.... not great.
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Today's political mail...
.. was from the Liberal Democrats, who are playing the 'think of the children' card, along with promises to spend more (via debt... no doubt). In any case, they can't win, but they could form a coalition with Corbyn/Labour.
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No sun or moon today, and so I shall end today with the best of humanity...
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| Just another day on ISS |
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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