Tuesday 1 September 2020

Bullish start to September

US equity indexes closed broadly higher, sp +26pts (0.7%) at 3526. Nasdaq comp' +1.4%. Dow +0.8%. The Transports settled +1.2%.




September and the final third of 2020 began on a bullish note, with the SPX and Nasdaq comp' breaking new historic highs. Zero sign of a s/t ceiling/turn, with a broad series of higher highs and higher lows. Volatility was in cooling mode, settling in the 26s.

Stock of the day: Zoom (ZM), 5min

Earnings were better than expected, with Zoom literally zooming to the proverbial moon, with an intra high of $478.00, and settling in the $457s. Overall price action was impressive, with the stock largely consolidating after the early high.

Another sunset closer to the autumn

Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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