Wednesday 25 March 2020

Remaining very unstable

US equity indexes mostly closed higher, sp +28pts (1.1%) at 2475. Nasdaq comp' -0.4%. Dow +2.4%. The Transports settled +2.4%. Near term outlook offers some bearish drama into the weekend.




The day began with another wheel barrow of guests on clown finance TV, not least Bullard - whom I'm still guessing with succeed Powell, and followed by the Ben Bernanke.

Bernanke was actually reluctant to even admit the US is in a recession, never mind an actual depression (GDP <10%). For now, the big names are mostly tip toeing on what is a horrific reality. 

With sig' gains reversing to sig' declines in early morning, this came to mind...

A $2trn bailout works out to around $14k per US taxpayer. These remain wild times within the twilight zone, and yes, we're gonna need a bigger bailout.

US equities settled mostly net higher, despite an ugly closing 15mins, as Sanders was threatening to block a bailout bill.

Intraday price action remains very unstable, as reflected in the VIX, which today settled +3.7% at 63.95. Thursday will be 'interesting', not least as we're due a 'historic' weekly jobless claims number.

Bullish the green shoots of spring!

A rare sight these days, as the London skies are bizarrely quiet.

Another sunset closer to British Summer Time (BST)... due 2am, Mar29th.
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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