Thursday 30 January 2020

Corona induced swings

US equity indexes mostly closed a little higher, sp +10pts (0.3%) at 3283. Nasdaq comp' +0.3%. Dow +0.4%. The Transports settled -0.6%.




US equities opened broadly lower, there was an opening reversal, but that reversal was itself reversed, with the market seeing an afternoon low of 3242. Further Corona news from the CDC and WHO saw the market have some rather strong swings, but ending with a late day ramp to settle net higher.

Volatility was itself volatile, seeing a high of 18.39, but settling -5.5% to 15.49. The s/t cyclical setup favours the equity bulls for early Friday, but the market looks extremely vulnerable into early next week.

Your views...

73% of you don't agree with Calhoun, and it is pleasing that most now understand the 737MAX is a fatally flawed design. Yet Boeing and their bed-fellow - the FAA, are absolutely intent on seeing it fly again.

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

Goodnight from London
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