Tuesday 16 July 2019

Trade concerns

US equity indexes closed rather mixed, sp -10pts (0.3%) at 3004. Nasdaq comp' -0.4%. The two leaders - Trans/R2K, settled +1.8% and u/c respectively.




US equities opened in minor chop mode, although it was still enough to see the Dow break a new historic high. The market turned moderately lower in the lunchtime hour, as Trump again threatened to increase tariffs on Chinese goods. The afternoon saw a minor recovery, but still settling on a weak note.

Volatility remained subdued, with the VIX settling +1.4% at 12.86. Whilst the s/t cyclical setup will favour the bulls on Wednesday, Thursday should lean to the bears.

Sunset ahead of a lunar eclipse
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Goodnight from London
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