Wednesday 23 October 2019

The chop continues

US equity indexes closed mostly a little higher, sp +8pts (0.3%) at 3004. Nasdaq comp' and the Dow both settled +0.2%. The Transports settled -0.2%.




US equities opened in minor chop mode, saw a low of 2991, and clawed to 3003 in early afternoon. With news of the Fed increasing the overnight REPO offerings from $75bn to $120, the closing hour saw a mini ramp to settle at a new intraday high of 3004.

Volatility remained subdued, with the VIX settling -3.1% at 14.01. We have four downside gaps to sp'2911/2893, and those will have to be tagged sooner, rather than later.

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

Goodnight from London
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