US equities opened broadly higher, which was an impressive reversal after overnight (if brief) declines.
Indeed, there was some distinct overnight drama...
One Twitter poster summarised it...
The Trump tweet (10.22pm EST)...
Protecting equities is clearly a priority for the current administration, and also its lackey... the federal reserve. We can expect more overnight 'stick saves', and that most certainly includes waking up the Kudlow at 2am.... if necessary!
Equities clawed upward into the early afternoon to 3154... just 1pt shy of last Friday's high.
The late afternoon saw some distinct cooling to 3127.
Volatility was subdued, the VIX settling -1.3% at 31.37.
|Another fine summer's day.|
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
If you value my work, subscribe to my intraday service.
For details and the latest offers, see: Permabeardoomster.com