Thursday 10 October 2019

Vulnerable market

US equity indexes closed moderately higher, sp +18pts (0.6%) at 2938. The Nasdaq comp' and Dow both settled +0.6%. The Transports settled +1.2%.




US equities opened a little choppy, but jumped higher on....

Equities built significant gains into the early afternoon to sp'2948, with a little cooling to settle at 2938. Volatility cooled for a second day, with the VIX settling -5.7% at 17.57.

Vulnerable market

Whilst we've now seen two days of gains, the market does look vulnerable into the weekend. The s/t outlook threatens an ugly end to the week. Clearly, that will be largely dependent on how the US/China trade talks end. Yours truly would hear alarm bells if the VIX settles the week above the key 20 threshold.

Descending into the land of BREXIT chaos

A fine autumnal evening
Extra charts in AH (usually around 5pm EDT) @

Goodnight from London
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