Thursday 30 July 2020

Naturally red Thursday

US equity indexes mostly closed on a weak note, sp -12pts (0.4%) at 3243. Nasdaq comp' +0.4%. Dow -0.9%. The Transports settled u/c.




US equities opened broadly weak, especially pressured via lousy econ-data, and European markets.

The following does make for a historically bad econ data point...

The Santelli of CNBC, highlighting a historically bad GDP print

Print'1 for Q2 GDP came in at -32.9%, verses -5.0% for Q1. Revisions could easily be +/- 5%, perhaps even 10% difference. In any case... its the most horrific data print we've ever seen. Things can only improve from here.

The SPX swung from a morning low of 3204 to 3250 in the late afternoon, but with most indexes still settling on the weaker side.

Volatility was mixed, the VIX spiking to 28.29, but settling +2.7% at 24.76. The SPX candle was a red reversal, with a mirroring black VIX candle, and they lean s/t bullish equities, at least for part of Friday.

A fine summer's day

Full moon is August 3rd
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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