Tuesday 18 February 2020

Post holiday depression

US equity indexes closed rather mixed, sp -9pts (0.3%) at 3370. Nasdaq comp' +0.02%. Dow -0.6%. The Transports settled +0.02%. Near term outlook offers midweek chop, with Thurs/Friday threatening sig' downside.




US equities opened on a weak note, as the mainstream were (understandably) seeing having renewed concern about the Corona, with tech giant Apple having warned that guidance (issued just a few weeks) was no longer valid. There was a latter day equity recovery, as s/t oversold conditions were partly burnt off.

Volatility picked up, with the VIX settling +8.4% at 14.83. The s/t cyclical equity setup offers Wednesday chop, with Thurs/Friday threatening a significant break lower.

There is background chatter on BSG, as Esmail of 'Mr Robot' is making a new series, and from what I gather, its NOT a reboot, but a continuation of the 2004 series/story. Thank the gods!
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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