Tuesday 4 June 2019

Turn off your screen?

US equity indexes closed powerfully higher, sp +58pts (2.1%) at 2803. Nasdaq comp' +2.6%. The two leaders - Trans/R2K, settled +3.3% and 2.6% respectively.




US equities opened broadly higher, as yesterday's closing hour low of sp'2728 marked a s/t spike floor.

Trump with May, with the latter to step down June 7th

The market built gains into the afternoon, with the 2800 threshold broken above into the close. Volatility naturally cooled, with the VIX settling -10.0% at 16.97. The s/t cyclical setup favours the bulls for another day or two, but nothing above the 2830/50s. The 2650s are on the menu, but clearly, not until next week.

Turn off your screen?

I will dare quote myself from earlier today...

Today's appearance by Mayo on the lunch time show was too good. I have to think CNBC saw the early morning futures and thought this lunchtime was as good a time as any. We had Mayo (not surprisingly) touting the financials, whilst Chris Whalen was suggesting a possible credit crisis this summer.

Seriously, if you think lower rates are going to help the US economy, or especially the financials, you're at the wrong blog! Meanwhile, the craziest thing I noticed today (although from yesterday's event)...

$199 for a VESA mount, and $999 for a monitor stand. You can find similar on Amazon for a combined cost of around $50. I guess you could say its bullish for AAPL stock, but I find such pricing truly bizarre, and rather contemptible to the Apple fanbase.

Descending to the land of geo-political chaos

A brief foray away from the green/red flashing boxes
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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