Tuesday 12 May 2020

Turnaround Tuesday

US equity indexes closed very significantly lower, sp -60pts (2.1%) at 2870. Nasdaq comp' -2.1%. Dow -1.9%. The Transports settled -2.8%.




US equities opened moderately higher, which was impressive after overnight sig' declines.

Cramer "If we do get negative rates, that is good for stocks". 
I will return to the Cramer in the Wed' post.

With WTIC printing the $25s, the US President appeared...

Trump continued....

I will merely note that zero/neg' rates are extremely destructive, especially to the financials.

The afternoon saw a break lower, on news the US Senate is pushing for a Chinese sanctions bill. Price spiraled lower, ending right at the lows.

Volatility was mixed, the VIX printing a new cycle low of 26.00, but settling +19.8% at 33.04.

Early Tuesday morning moon
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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