Thursday, 7 May 2020

Broadly choppy

US equity indexes closed broadly higher, sp +32pts (1.1%) at 2881. Nasdaq comp' +1.4%. Dow +0.9%. The Transports settled +1.5%.




US equities opened significantly higher, which was again bizarre... after another set of garbage jobs data...

The Santelli

Tom Lee of Fundstrat appeared on the lunchtime show...

TL has a year end target of sp'3450. For now, I can't subscribe to such a target, unless we see a monthly settlement back above the monthly 10MA (currently around sp'3K). Certainly though, Lee is always worth listening to.

The afternoon saw some latter day cooling to 2876, and settling at 2881.
Volatility was itself muted, the VIX settling -7.8% at 31.44.

The lockdown continues

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

Goodnight from London
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