Monday 28 October 2019

Starting positive

US equity indexes mostly closed moderately higher, sp +16pts (0.6%) at 3039. Nasdaq comp' +1.0%. Dow +0.5%. The Transports settled -0.03%. Near term outlook offers broad chop ahead of the Fed.




US equities began the last four days of October on a positive note, with the SPX breaking a new historic high at the open.

At 9.41am EDT...

Whilst the US President didn't mention the fed today, we can expect some swipes later this week, not least if the main market sees a classic 'sell the news' outcome.

Volatility remained subdued, with the VIX settling +3.6% at 13.11. S/t outlook offers a washout into early November, with FIVE downside gaps to sp'2911/2893.


The EU leadership made it official, with another delay to Jan'31st 2020. In the evening, PM Johnson pushed a vote to hold a general election.

... whilst the vote was 290/70 in favour, it was below the necessary majority (326 or higher). I would expect another vote (or more!) in the days ahead, with an election Dec'12th, with the results notably due Friday 13th. Good luck with that Johnson!

Departing the capital of geo-political chaos

Another chilly autumnal day
Extra charts in AH (usually around 5pm EDT) @

Goodnight from London
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