Friday, 17 May 2019

OPEX swings

US equity indexes closed broadly weak, sp -16pts (0.6%) at 2859. Nasdaq comp' -1.0%. Dow -0.4%. The two leaders - Trans/R2K, settled -1.1% and -1.4% respectively.




Equities opened moderately weak, tagged the gap zone of sp'2855/50, and then swung back upward to minor gains (intra high 2885). The late afternoon saw a rather classic case of 'rats selling into the weekend', as many s/t bulls are (understandably) twitchy about holding overnight/across the weekend.

Volatility was pretty subdued, with the VIX seeing a (cash market) opening high of 16.57, but then melting back lower to settle +4.4% at 15.96.

Goodnight from London
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