Tuesday 15 October 2019

Climbing with earnings

US equity indexes closed significantly higher, sp +29pts (1.0%) at 2995. Nasdaq comp' +1.2%. Dow +0.9%. The Transports settled +1.3%.


sp'daily5



VIX'daily3



Summary

US equities opened moderately higher, and built significant gains, as the first batch of Q3 earnings came in broadly fine.

Volatility was in melt mode, the VIX settling -7.1% at 13.54. The s/t cyclical setup favours the bears for Wed/Thurs'. It is notable that Wednesday will see QE4 begin, and that is no small matter.
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Goodnight from London
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