Naturally rebounding

US equity indexes closed broadly higher, sp +21pts at 2585. The two leaders - Trans/R2K, both settled higher by around 1.6%. VIX settled -10.4% at 11.76. Near term outlook offers a touch of cooling to the mid sp'2570s, but with the 2600s due before end month.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and built broad gains into the afternoon.

It was notable that once again the mainstream have seen their mood swing from effectively 'on suicide watch' to 'everything is fine again'. We're only in the sp'2500s, what happens when we're in the 3000s next year, and we drop 1% at the open? Who at CNBC, Bloomberg, or Fox Business, is responsible for calling the fed to request at least a press release threatening QE4 ?

Market volatility was naturally whacked at the open, and ground down to the mid 11s in early afternoon. With a retrace to the mid sp'2570s, VIX 12.50/13s seem due, before another wave to the 9s. Whether that is before or after the Thanksgiving break.... is of no importance.
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Appropriate.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London

More of the same

US equity indexes closed moderately weak, sp -14pts at 2564. The two leaders - Trans/R2K, both settled lower by -0.5%. VIX settled +13.3% at 13.13. Near term outlook offers a bounce to the 2580s before the weekend. More broadly, the 2650/700 zone is still on track in late December.


sp'daily5

VIX'daily3

Summary

The day began with a mild case of mainstream media bearish hysteria...

Its not what Cramer stated, as the mainstream's lack of perspective, seeing equity futures as 'sharply lower', whilst the sp' was set to open lower by just -10pts (0.4%).Would an opening decline of -25pts (1.0%) now justify the word 'crash' being used?

US equities did indeed open moderately lower, breaking below quad-spike support of 2565/66. The market floored at 2557, to whipsaw back upward, although the closing hour price action wasn't exactly great.

Its notable that the VIX broke to the mid 14s, the highest level since Aug'21st. The key 20 threshold still looks out of range for the rest of the year.
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Grey horror - marginally more inspiring than GE CEO/Chair' Flannery.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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Another day of moderate chop

US equity indexes closed moderately weak, sp -5pts at 2578 (intra low 2566). The two leaders - Trans/R2K, both settled lower by around -0.3%. VIX settled +0.8% at 10.59. Near term outlook offers further moderate swings into Friday opex. More broadly, the 2650/700 zone remains viable into year end.


sp'daily5

VIX'daily3

Summary

US equities opened a little weak, cooled to 2566, and then hyper spiked. The 2565/66 threshold has indeed been rather important across the last few weeks. Whilst the bulls are struggling to break into the 2600s, neither are the bears able to muster any sustained/significant downside.

Volatility climbed in the morning, with a notable higher low of 12.61, but settling in the mid 11s. The key 20 threshold looks well out of range for the rest of the year, unless things turn hot in the middle east or NK.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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