Thursday 18 June 2020

Very resilient

US equity indexes closed a little mixed, sp +1.8pts (0.1%) at 3115. Nasdaq comp' -0.1%. Dow +0.3%. The Transports settled -0.3%.




US equities opened on a weak note, but all the bears could muster was 3093, before quickly turning fractionally positive.

The Santelli, with red futures

Thursday's weekly jobs data came in at 1.508M vs 1.566 prior. Sure, its a improvement on last week, but 1.5M is still a horrific number. Yet, the market broadly doesn't care, on the notion the fed will just print however many trillions are necessary to paper over the economic cracks... or rather... giant chasms.

The market saw choppy upside into the afternoon, a little cooling wave, and settling effectively flat.

Volatility saw an early cash market high of 35.04, but settling -1.6% to 32.94. Friday will be quad-opex, and that leans to considerable price chop on significantly higher volume.

Sunshine after summer storms
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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