US equities opened moderately higher to sp'2940, but then went into cooling mode, seeing a late morning low of 2913, before clawing back upward.The afternoon saw further chop, leaning on the weaker side.
Meanwhile, the US president issued another triple tweet swipe at the Fed..
Volatility was notable resilient into the holiday weekend, with the VIX settling +6.1% to 18.98. Today's settling black equity candle at key resistance merits some reflection.
August settled net lower by -53pts (1.8%) to 2926. The SPX settled a considerable 113pts above the key 10MA of 2813. The m/t bullish trend that began from the Dec'2018 low, remains intact. Things only turn interesting with a break >2960 (to be decisive), or <2822.
|The London Parakeets|
|The sun sets on August trading|
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Goodnight from London
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