Tuesday 26 May 2020

Black candle within key zone

US equity indexes closed broadly higher, but distinctly below their early highs, sp +36pts (1.2%) at 2991. Nasdaq comp' +0.2%. Dow +2.2%. The Transports settled +5.0%. The key issue is how the market will settle the month.




US equities opened the short four day week on a very positive note, with the SPX jumping right above giant psy'3K.

With Dow 25K, and sp'3K, the US President (not surprisingly) appeared...

The afternoon saw considerable chop, but the closing hour saw some distinct cooling. Today saw the SPX settled with a black candle, with a mirroring hollow red reversal candle in the VIX. I will merely say... its 'curious'.

Volatility subtly held up, the VIX settling -0.5% at 28.01.

Twilight skies
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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