Wednesday 15 May 2019

Midweek swings

US equity indexes closed broadly higher, sp +16pts (0.6%) at 2851. Nasdaq comp' +1.1% The two leaders - Trans/R2K, settled +0.2% and +0.3% respectively. Near term outlook offers yet another cooling wave ahead of Friday opex.




US equities opened moderately weak, but saw a significant upward swing to moderate gains, as it was reported the US would delay tariffs on EU auto imports. The afternoon saw a high of 2858, just 6pts above yesterday's high. The closing hour saw some subtle cooling, as some bulls are still too twitchy to hold overnight.

Volatility saw an opening high of 19.15, then cooled to the 16s, and settling -9.0% at 16.44.The s/t cyclical setup will favour the equity bears... not least on a Thursday.

Koreans to the moon?

12c/53f, sunny... but it sure ain't warm.
Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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