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%.




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.

Extra charts in AH (usually around 5pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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