Thursday 21 February 2019

Typically bearish Thursday

US equity indexes closed moderately mixed, sp -9pts (0.3%) at 2774. Dow and Nasdaq comp' both settled -0.4%. The two leaders - Trans/R2K, settled +0.1% and -0.4% respectively. Near term outlook offers weak chop into the weekend.




US equities opened weak to 2772, and saw a little recovery into early afternoon. There was a secondary wave lower into the closing hour to 2764, but then a late day mini ramp (for no good reason). Volatility picked up a little, with VIX printing 15.17, and settling +3.1% at 14.46. 

IPOs on the menu

Lyft is set to IPO late March, notably ahead of UBER. If equities take another swing lower, even as small as just 5%, the mainstream are going to be twitching again, and some of the IPOs will be delayed for reasons of 'adverse market conditions'.

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

Goodnight from London
If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: