Wednesday 21 August 2019

Midweek rebound

US equity indexes closed moderately higher, sp +23pts (0.8%) at 2924. Nasdaq comp' +0.9%. The two leaders - Trans/R2K, settled +1.0% and +0.8% respectively. Near term outlook offers another swing lower.




US equities opened broadly higher, inspired by significant gains in European markets, but also good earnings from Target and Lowes.


Once again, the US President cites a guy whose 'best stock for 2008' was Washington Mutual.

Trump continued...

So, does Powell play golf, is that the important question we should be asking?

The afternoon saw the press release of the July FOMC minutes from Print Central, with equities seeing minor chop into the close.

Volatility was ground lower, with the VIX settling -9.7% at 15.80. S/t outlook favours another swing lower to price gap of 2864/47, and that should equate to VIX 20/21s.

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

Goodnight from London
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