Wednesday 3 June 2020

Just another day

US equity indexes mostly closed very significantly higher, sp +42pts (1.4%) at 3122. Nasdaq comp' +0.8%. Dow +2.0%. The Transports settled +3.3%.




It was just another day for the equity bulls, with the SPX opening moderately higher, and clawing upward across the day, to break a new cycle high.


The latest ADP jobs data was not surprisingly horrific, but the market doesn't care, on the notion the economic recovery will be V-shaped. That outlook is overly optimistic, and another stimulus bill can be expected... with Print Central having already stated they would be supportive of.

Volatility naturally melted lower, the VIX settling -4.4% to 25.66.

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

Goodnight from London
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