Friday, 9 August 2019

Weakness into the weekend

US equity indexes closed broadly weak, sp -19pts (0.7%) at 2918. Nasdaq comp' -1.0%. Dow -0.3%. The two leaders - Trans/R2K, settled -1.1% and -1.2% respectively.




US equities opened weak, and cooled to the 2900 threshold, before seeing some choppy upside into the late afternoon. The closing hour saw a classic instance of 'rats selling into the weekend', swinging from 2932 to settle -19pts (0.7%) to 2918.

Volatility picked up, with the VIX seeing a peak of 19.44, and settling +6.3% to 17.97. The s/t cyclical outlook moderately threatens a push to the sp'2943/53 gap zone, before yet another rollover. A break of the 2822 low is very much within range next week.

Full moon is Thurs' Aug15th

Moody skies to end a turbulent week
Extra charts in AH (usually around 7pm EDT) @

Goodnight from London
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