Wednesday 22 January 2020

A black candle

US equity indexes mostly closed fractionally higher, sp +1pt at 3321. Nasdaq comp' +0.1%. Dow -0.03%. The Transports settled -0.7%.




US equities opened moderately higher, and it was enough for the SPX to break a new historic high of 3337.77, making it a day and week for the bulls.

Trump caught some attention in early morning...

Interviewed by the Kernan of CNBC, the US President took a few mild swipes at the fed, and once again called for lower interest rates. For the record, another rate cut looks probable late spring/early summer.

The late afternoon saw a little equity cooling, with the SPX briefly turning fractionally red.
Volatility remained subdued, with the VIX settling +0.5% at 12.91.  

The SPX settled with a black candle today, and that does lean s/t bearish. The fact it will be a Thursday, will inherently favour the bears. Things only turn 'interesting' with a break of s/t rising trend, and tomorrow, that will be around 3292.

Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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