Wednesday, 20 November 2019

Downside break

US equity indexes closed broadly weak, sp -11pts (0.4%) at 3108. Nasdaq comp' -0.5%. Dow -0.4%. The Transports settled -1.4%.




US equities opened a little weak, but quickly slipped into minor chop mode. Things turned interesting in the 12pm hour...

... with the mainstream realisation that phase one won't likely be signed before year end, the market broke lower. S/t rising trend was taken out, along with a few other aspects of support.

The afternoon saw a low of sp'3091 with VIX 14.17, before a moderate recovery into the close. Volatility picked up, with the VIX settling --0.6% at 12.78.

Regardless of overnight/early Thursday, today did see a key downside break, and it offers a broader washout into early December. We have SIX downside gaps, with the sixth of 2911/2893. Whilst that doesn't have to be tagged... the historical percentages favour it. 

Departing the capital of geo-political chaos

Another cold day in the London metropolis
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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