Wednesday 26 June 2019

Midweek weak bounce

US equity indexes closed rather mixed, sp -3pts (0.1%) at 2913.  Nasdaq comp' +0.3%. The two leaders - Trans/R2K, settled +0.7% and -0.2% respectively. Near term outlook favours the bears.




US equities opened moderately higher, partly inspired on a CNBC report that Munchin said trade talks "... we are about 90% of the way...", but CNBC soon changed that to "... we were about 90% of the way...". That didn't help, with equities almost cooling to breakeven. Price action was choppy, and leaned lower into the close.

Volatility churned, with the VIX settling -0.4% at 16.21. The s/t cyclical setup offers Thurs/Friday equity cooling, although end month/Q1/H1 issues will confuse things.

Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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