US equities opened significantly higher. Partly, it was cyclical, partly stronger European markets, and partly it was due to higher WTIC.
The US President duly chimed in...
Whilst higher prices are helping to juice equities - especially energy stocks upward, the $24s won't be enough to prevent mass sector bankruptcy. To avoid that... the US Govt', or rather the Fed, are going to need to fund yet another bailout.
The afternoon saw increasing chop, with the closing hour seeing some distinct cooling to 2863, as the market was s/t cyclically over-stretched.
Volatility was in melt mode, the VIX settling -6.6% at 33.61.
|A fine... if chilly (9c/48f) evening in the city of lockdown|
|Remaining a rare sight|
|Early evening moon.. as the sun sets|
|Full moon Thurs' May 7th|
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
If you value my work, subscribe to my intraday service.
For details and the latest offers, see: Permabeardoomster.com