sp'daily5
VIX'daily3
Summary
US equities opened a little choppy, but did claw upward to new cycle highs.
Meanwhile...
... and continued...
The 'hater' - Roth, is the head of site integrity, someone who its been reported has called Trump a 'Nazi'. Not great, and is arguable is about as balanced as the San Andreas fault.
The afternoon saw equities continue to claw to a new cycle high of sp'3068, but the closing hour saw a very significant cooling wave, ending on a distinctly weak note.
Volatility was mixed, the VIX printing 27.43, but settling +3.5% at 28.59. As things are, the SPX is comfortably on track to settle the week/month above giant psy'3K, the 200dma, and the key monthly 10MA. To yours truly, such a May settlement will turn the m/t trend back to outright bullish, and it will arguably solidify the March low of 2191 as a washout low.
I have to add, Tom Lee of Fundstrat...
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| Tom Lee - April 20th 2020 |
*original tweet: https://twitter.com/permabear_uk/status/1252267736157376512
Lee's notion that the equity market recovery will be V-shaped, regardless of the type of economic recovery, has turned out to be correct. Considering the likely bullish May settlement, he could be seen to be doing a little bullish dance into the weekend.
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| The number of planes is very.... very slowly increasing |
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| A fine day |
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| Full moon is Fri' June 5th |
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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