Monday 14 January 2019

Starting weak

US equity indexes closed on a weak note, sp -13pts (0.5%) at 2582. Nasdaq comp' -0.9%. The two leaders - Trans/R2K, settled u/c and -1.0% respectively. Near term outlook still offers the sp'2630s, where the 50dma is lurking.




US equities started the week on a broadly weak note, but the bears couldn't muster anything significant, and the day consisted mostly of minor chop.

Volatility saw the low 20s, but then melted back lower, settling moderately higher in the low 19s. The s/t cyclical setup favours the equity bulls for another day or two. Clearly though, the bulk of the bounce from sp'2346 is complete, as even the mainstream cheerleaders recognise.

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

Goodnight from London
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