Thursday 15 August 2019

Equities still struggling

US equity indexes closed somewhat mixed, sp +7pts (0.2%) at 2847. Nasdaq comp' -0.1%. Dow +0.4%. The two leaders - Trans/R2K, settled -0.8% and -0.4% respectively. Near term outlook offers upside (if choppy) into opex.




It was a very choppy day in equity land, with the SPX seeing significant overnight swings, opening positive, but breaking a new cycle low in the mid afternoon of 2825, just 3pts above last week's low. The late afternoon did see a distinct rebound though.

Volatility settled -4.2% at 21.18. S/t outlook favours equity upside to the 2894/2926 gap zone, before resuming lower. Primary target next week is the 200dma around the 2800 threshold, with secondary of the 2730/20s.

Soft landing into Friday OPEX ?

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

Goodnight from London
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