Monday 14 October 2019

Starting subdued

US equity indexes closed a little weak, sp -4pts (0.1%) at 2966. The Nasdaq comp' and Dow both settled -0.1%. The Transports settled -0.3%.




US equities began on the week on a subdued note, mostly as it was Columbus day.

Volatility was itself subdued, with the VIX settling -6.5% at 14.57. S/t outlook offers an eventual tag of (at least) the upper end of secondary downside gap to 2911. Considering Friday is OPEX, that might not occur until next week.

Your views

It is fascinating to see that a clear majority expect an upward break.

In terms of most favoured asset class, we have an effective tie between equities and the precious metals. Bonds are still overlooked by many, and if you believe yields/rates will broadly fall into/across 2020, bonds have to seen as mid/long term super strong.

Extra charts in AH (usually around 5pm EDT) @

Goodnight from London
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