sp'daily5
VIX'daily3
Summary
US equities opened moderately higher, and built very significant gains into the late afternoon.
Meanwhile, the US President couldn't resist...
... taking yet another swipe at the Fed. I have to wonder if Powell is aware of just how much Trump is tweeting about him and the institution he leads.
Volatility was naturally lower, with the VIX cooling for a third day, settling -13.2% at 16.91.
As for ascending into the danger zone, equity bulls have seen a powerful bounce from sp'2822 to 2938. Despite the daily close above the 50dma, a bounce is very likely what it is. Many do recognise the next few months will likely see a number of bouts of very volatile market action.
From a trading perspective, it will offer a great many opportunities, both short and long side. Yours truly remains particularly focused on the precious metals and the related mining stocks, both of which are increasingly m/t bullish.
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| Korean A-380 ascending... |
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| ... and fading away. |
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| A glimpse of sun... before the storm |
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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