US equities opened in chop mode, and from an initial high of sp'3179, price spiraled to 3115 in late morning.
The weekly jobless claims came in at 1.314M vs 1.413 prior, with continuing claims at 18.06M. Whilst it was another improvement, the rate of change isn't great, and even the mainstream cheerleaders are starting to get concerned at the stalling recovery.
The afternoon saw a recovery from 3115 to 3164, with some closing hour chop, leaning on the weaker side.
Volatility picked up, the VIX swinging from an early low of 26.11 to 31.48, and settling +4.2% to 29.26. The bigger daily equity and VIX cycles are swinging away from the equity bulls/volatility bears, and offer some 'drama' for at least a few weeks... and who doesn't like some market drama?
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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