Monday 15 June 2020

The volatility continues

US equity indexes closed broadly higher, sp +25pts (0.8%) at 3066. Nasdaq comp' +1.4%. Dow +0.6%. The Transports settled +0.9%.




US equities opened very significantly lower. Indeed, it was a rough open for the mainstream cheerleaders, not least the Cramer...

Eyes Wide Shut

The market saw a powerful upside reversal though, from an early low of sp'2965 to 3079 in the mid afternoon. The late afternoon saw some significant chop, as the volatility that began last Thursday continues.


The market was 'inspired' in early afternoon, with news the Fed will start buying individual corp' bonds, rather than just ETFs. All that is left for Print Central... negative rates and buying equities.

Volatility printed an early (cash market) high of 41.53, but settling -4.7% at 34.40. I would merely note this Friday is quad-opex, and the market will be inclined for broad chop.

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

Goodnight from London
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