Monday 20 July 2020

Positive start

US equity indexes mostly closed broadly higher, sp +27pts (0.8%) at 3251. Nasdaq comp' +2.5%. Dow +0.03%. The Transports settled -1.6%.

sp'daily5



VIX'daily3



Summary

US equities began the week much as last Friday ended... chop mode.

Meanwhile...

The Quintanilla and the Liesman

The mainstream cheerleaders are naturally starting to get twitchy about the $600 per week of extra support, which is due to expire end month. Even if it does expire, its very possible another stimulus bill could be passed, if a somewhat lesser amount of 500/400.

The afternoon saw the market claw broadly upward, with the SPX breaking a new cycle high of 3258.

Volatility melted lower, the VIX settling -4.7% at 24.46.

Finally, your view...


One of the more bizarre polls I've run lately. The CEO of Print Central... a clear winner. 
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 A fine summer's evening

Still... a rare sight

One of many hundreds... of local Parakeets

Another sunset closer to the autumn
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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