Thursday 6 June 2019

The Longest day

US equity indexes closed somewhat mixed, sp +17pts (0.6%) at 2843. Nasdaq comp' +0.5%. The two leaders - Trans/R2K, settled -0.9% and -0.2% respectively.

sp'daily5



VIX'daily3



Summary

US equities opened in minor chop mode, although the Transports and R2K were distinctly weak by late morning. The afternoon saw another wave higher on a Bloomberg headline that the US Govt' is considering delaying the Mexican tariffs.

Volatility was itself subdued, with the VIX settling -1.0% at 15.93. The s/t cyclical setup favours the equity bears, a test of the 2800 threshold isn't a stretch ahead of the weekend.
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More green than the Transports

The Longest day

Its been 75 years since allied forces began the battle to re-take France, and the rest of mainland Europe from the Nazis. For today at least, the red and green flashing boxes seemed entirely inconsequential.








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Goodnight from London
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