Wednesday 9 January 2019

Eight of ten

US equity indexes closed on a positive note, sp +10pts (0.4%) at 2584. The two leaders - Trans/R2K, settled +1.4% and +0.8% respectively. Near term outlook offers a mini washout on Thursday, but regardless... the sp'2620/30s appear on track.




Despite a few intraday swings, the spx managed to settle net higher for the 8th day of 10. Whilst Thursday might see a mini washout (I can think of a few excuses), the 2620/30s look on track. I'm already starting to wonder about the OPEX of Jan'18th. Would the market makers not want to whack things back down to psy'2500? Its just a thought.

Meanwhile, volatility saw a kooky print of 22.80 in early morning, but settled in the upper 19s. The 16/15s would likely sync with the low/mid 2600s.

Bonus chart: Japan, monthly

Like most other world markets, the Nikkei is starting the year strong, currently +2.1% at 20427. However, things only turn back to bullish >21k, and a monthly settlement above that appears very unlikely. The recent break of l/t trend is not to be dismissed lightly!

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

Goodnight from London
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