Tuesday 22 October 2019

Choppy Tuesday

US equity indexes closed mostly a little weak, sp -10pts (0.3%) at 2995.99. Nasdaq comp' -0.7%. The Transports settled +0.9%. Near term outlook threatens sig' cooling to tag/fill a quartet of downside gaps to 2911/2893.




US equities opened in minor chop mode, leaning on the positive side. The SPX battled upward to 3014 in the early afternoon. There was distinct weakness into the close, partly cyclical, but also due to BREXIT related news.

Volatility remained subdued, with the VIX settling +3.3% at 14.46.

Meanwhile, the Cramer was covering the bases last evening, with a consideration on some bearish scenarios..

On any basis, volatility is on the low side. For now, a bearish monthly close (<sp'2870s or so) looks very unlikely, although we are due to tag/fill FOUR downside gaps to 2911/2893. It could be close.

Descending into the land of geo-political chaos

Autumn colours

Late afternoon in the London metropolis
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Goodnight from London
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