sp'daily5
VIX'daily3
Summary
The day began in pre-market with the US President...
Nasdaq 10K is certainly something for the economic and market bulls to tout.
Equities opened in chop mode, and naturally remained that way into the 2pm hour, when the Fed issued a press release.
The Fed, and later Powell, noted they do not expect ANY rate hikes until at least the end of 2022. So, we're another 2.5 years of ZERO rates, and that arguably assumes a broad economic recovery, with no secondary Corona wave, or any other 'surprises'. On any basis... its a headline that should terrify the financials. On the flip side, the gold/silver, and related mining bulls, can laugh themselves into the weekend... if not, the next few years!
The afternoon saw considerable equity chop, leaning on the weaker side.
The VIX was itself subdued, settling u/c at 27.57.
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Goodnight from London
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