Thursday, 25 June 2020

Late day ramp

US equity indexes closed significantly higher, sp +33pts (1.1%) at 3083. Nasdaq comp' +1.1%. Dow +1.2%. The Transports settled +1.2%.




US equities opened on a weak note, pressured by further Corona concerns, but also by the latest weekly jobs data. The market saw considerable chop into the mid afternoon.

There was a closing hour ramp... for no good reason, with s/t momentum turning positive. Whilst the mainstream cheerleaders attributed the reason for the ramp as due to loosening of the Volcker rule, that news/chatter was out in pre-market.  

Volatility saw an early (cash market) high of 36.34, before melting lower into the mid afternoon, and getting whacked into the close, the VIX settling -4.8% to 32.22.

Your view...

A majority (if marginal) of you believe June will settle above 3K.

Summer time in the park

Next full moon is July 5th
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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