sp'daily5
VIX'daily3
Summary
US equities opened broadly higher, but the gains were shaky, and the SPX came within 4pts of filling the opening gap, with price resuming upward.
Meanwhile...
The US President is understandably looking forward to the US economy re-opening. Whilst that does seem likely late April/early May, how many tens of millions will remain jobless into/across the summer?
The afternoon saw the market push upward with the FOMC minutes. Volatility was in cooling mode, the VIX settling -7.2% at 43.35.
Your views...
Whoever said my audience were biased to the downside? For the record, I do not see 2191 as a key m/t low. Yes, the Fed is throwing trillions into the market, but most of it is locked up on hard drivers in server basements. Another major swing lower is probable, if from the 2900s.
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| Partly funded via the BoJ? |
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| A fine end to a warm (21c/70f) April day. |
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| The waning moon |
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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