Thursday 3 September 2020

Thursday troubled skies

US equity indexes closed powerfully lower, sp -125pts (3.5%) at 3455. Nasdaq comp' -5.0%. Dow -2.8%. The Transports settled -2.5%.




US equities opened on a weak note, despite better than expected jobs data.

The Nasdaq lead the way lower, spiraling into the morning, and pulling the rest of the market powerfully lower, including the more resilient Dow and Transports.

The US President was unquestionably rattled, blaming poll data for the equity swing lower...

Ironically, (from last night)...

.. and that tweet sure didn't age so well.

The late morning saw a bounce, but that was fully reversed, not helped by Fed official Evans, touting further QE.

The afternoon saw considerable chop, breaking a new low of 3427, with a choppy bounce into the close.

Volatility picked up, with the VIX printing 35.94, and settling +26.5% to 33.60.

Appropriately troubled skies, as summer is fading fast.

Bullish SpaceX and Starlink

Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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