Post FOMC cooling

US equity indexes closed on a weak note, sp -7pts (0.2%) at 2806. The two leaders - Trans/R2K, settled -0.5% and -0.2% respectively. VIX settled +2.2% at 16.72. Near term outlook offers s/t cooling of 2.5-3.5% ahead of next opex. The grander issue remains how November will settle.

sp'daily5

VIX'daily3

Summary

US equities opened a little weak, and saw minor chop into the FOMC announcement. The late afternoon saw a distinct cooling wave, as s/t price momentum now favours the bears.

Volatility saw a new cycle low of 16.09, but then swung upward, settling +2.2% at 16.72. S/t outlook offers equity cooling, with the VIX set to at least test the key 20 threshold.
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Meanwhile... (full screen recommended!)



NASA continues to make reasonable progress with the Orion, as part of the SLS program. However, when you consider that SpaceX are re-using their launch vehicles, it makes the SLS program look grossly outdated. see: https://en.wikipedia.org/wiki/Space_Launch_System

Reading around, I see many within the industry believe that we'll likely only see 3 or 4 SLS vehicles ever launched, not least once the SpaceX BFR is launching on a regular basis.
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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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Melt up into the results

US equity indexes closed on a positive note, sp +17pts (0.6%) at 2755. Nasdaq comp' +0.6% at 7375. The two leaders - Trans/R2K, settled +1.0% and +0.5% respectively. VIX settled -0.2% at 19.91. Near term outlook offers a post election washout to the sp'2690/80s, before better opportunity of the 2770/2810 zone.


sp'daily5

VIX'daily3

Summary

It was a day of moderate swings, seeing a low of 2737, but then battling upward into the close, settling at 2755. Volatility was itself subdued, settling just under the key 20 threshold. S/t outlook offers a spike in the VIX, with some equity cooling. More broadly though, the sp'2800s with VIX in the mid teens is due.
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Bonus chart: Germany, monthly

We're only four trading days into the month, but its notable that the DAX is currently +0.3% at 11484. The index/market is m/t bearish, having lost the l/t trend from the 2009 collapse lows. Its very difficult to see the US market breaking new historic highs if German equities don't recover.
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Open day!

Wednesday will be open day at http://subscriber.permabeardoomster.com  
 
For the non-subscribers out there, you will be able to follow my semi-coherent ramblings across the day. It should be interesting, as we'll have the market responding to the midterm election results.
First post: pre-market brief, no later than 8.30am eastern.
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Summer is a faded memory

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

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Pre-election chop

US equity indexes closed rather mixed, sp +15pts (0.5%) at 2738. Nasdaq comp' -0.4% at 7328.  The two leaders - Trans/R2K, both settled u/c. VIX settled +2.3% at 19.96. Near term outlook offers cooling to the sp'2690/80s, with VIX 22/23s.


sp'daily5

VIX'daily3

Summary

The week began on a choppy note, but this is rather natural ahead of the midterm election results. The sp' saw an early low of 2717, swinging upward to 2744, on spurious poll data that suggested the Republicans might hold the house and senate.

Volatility saw an early high of 20.87, but then melted lower to settle in the upper 19s. S/t equity price structure isn't so bullish, a cooling wave of 1.5-2.0% to the sp'2690/80s is a high threat within 1-2 days.
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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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