Thursday 14 March 2019

Tedious minor chop

US equity indexes closed a little weak, sp -2pts (0.1%) at 2808. Nasdaq comp' -0.2%. The two leaders - Trans/R2K, settled -0.2% and -0.4% respectively. Near term outlook offers quad-opex chop into the weekend.




It was a day of tedious minor chop in equity land, with an SPX trading range just 11.54pts wide. Volatility was itself subdued, settling fractionally higher in the mid 13s.

Friday is quad-opex, and that will inherently lean to broad chop. On balance, I'd look for the market makers to try to work their magic, and pin the market around the sp'2800 threshold.


It was just another day in the UK, with a series of votes on BREXIT related matters. The thing is... none of the votes have ANY legal implications. If the UK govt' wishes to just ignore them, and exit the EU with no deal, they are legally allowed to just let it happen.

As things are, an attempt to delay BREXIT seems probable, but it is a situation of 100% chaos. Many now believe PM May will resign, once BREXIT (with some kind of deal/agreement) occurs. The next general election (whenever that might be), will doubtless see Corbyn elected. That in itself will be 'interesting', to put it mildly.

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

Goodnight from London
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