Tuesday 30 April 2019

The sun sets on April

US equity indexes closed moderately mixed, sp +2pts (0.1%) at 2945. Nasdaq comp' -0.7%. The two leaders - Trans/R2K, settled +0.4% and -0.4% respectively.




It was a day of moderate swings in equity land, with the morning seeing a low of sp'2924, but then a rather typical latter day recovery to settle broadly flat. Volatility did pick up, with the VIX printing 14.05, but then melting back lower to settle +0.1% at 13.12.

SPX, monthly

The sp'500 climbed for a fourth consecutive month, +111pts (3.9%) to 2945, having broken a new historic high of 2948. On any basis, it was a very bullish month. Note the macd (blue bar histogram) cycle, as price momentum is about to turn net positive for the first time since Oct'2018. The outlook for May has to be bullish.

AMD and AAPL bulls set to ascend in early May

The sun sets on April
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

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