Bearish Robinhood

US equity indexes closed on the weaker side, sp -0.5pts at 2650. Nasdaq comp' -0.4%. Dow +0.3%. The two leaders - Trans/R2K, settled -1.6% and -1.5% respectively. VIX settled -3.8% at 20.65. Near term outlook offers further choppy upside ahead of the Dec'19th FOMC.


sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, but the gains were shaky, with the spx turning negative in late morning. The afternoon saw a low of 2637, and then clawing back upward. Despite sig' weakness in the Trans' and R2K, volatility remained in melt mode, settling in the mid 20s.
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Robinhood

I've occasionally considered Robinhood as a possible broker to use, but I never liked the idea that I'd be having my stocks/options hosted with a relatively new company. There is a lot to be said for a brokerage with a history spanning decades. Most of all though, very few good products/services are free.

Technical problems, with co-founder of Robinhood - Baiju Bhatt

Robinhood has grown rapidly since 2013, with more than six million accounts. The number of staff remains very small. When things go wrong, as happened yesterday... for those clients who could not exit/close existing positions, it turned into an outright horror movie.

Today's CNBC interview...



... which (ironically) had its own technical problems at t+2.18.

T+2.18>2.26 would make for a very appropriate gif, for those inclined. 

For a sample of the VERY angry retail amateurs out there, see the infamous: Wallstreetbets

Yours, sleeps soundly, via Charles Schwab.  
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Rarely a sky without aircraft

A little closer

Bullish moon

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

Goodnight from London
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If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: permabeardoomster.com

 

Battling upward

US equity indexes closed rather mixed, sp +14pts (0.5%) at 2651. The two leaders - Trans/R2K, settled u/c and +1.0% respectively. VIX settled -1.4% at 21.46. Near term outlook threatens early Thursday weakness.

sp'daily5

VIX'daily3

Summary

US equities opened significantly higher, and built gains into the afternoon. With Trump not having any on-camera arguments with the democrats, the market was notably stronger, but the late afternoon saw distinct cooling.

Volatility was naturally in melt mode, with the VIX settling in the mid 21s. Today's black-fail candle in the spx favours s/t weakness.. at least for early Thursday.


Battling upward

Today's gains (especially within tech') will give some confidence to the more resilient equity bulls...

Ice Cold in Alex, 1957

... but I'm guessing it will end in tears, certainly before the Christmas break.

Unless the spx can clear the recent 'trade truce' high of 2800, it still looks like the equity bears will  control the market into year end/early 2019. A few minutes of staring at the following monthly chart should suffice...

sp'monthly3

The situation is not so bullish, holding under the key 10MA, with a red Elder candle.
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Another day closer to the solstice

Crescent moon at dusk

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

Goodnight from London
--
If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: permabeardoomster.com

 

Bounces are to be seen as such

US equity indexes closed moderately mixed, sp -0.9pts at 2636. Nasdaq comp' +0.2%. The two leaders - Trans/R2K, settled -0.4% and -0.2% respectively. Near term outlook offers a push to the 2680/2700 zone, but then another rollover. A challenge to break and settle under the Feb' low of 2532 remains on the menu.

sp'daily5

VIX'daily3

Summary

US equities opened significantly higher, partly helped via a Trump tweet that 'big announcements are coming' in terms of trade. The spx saw a high of 2674, but the gains eroded to fractional declines, not helped via....

... a very public feisty exchange between Trump and Pelosi/Schumer. Today's event is an early example of the political deadlock that will be one of the key themes in 2019. The spx swung from 2621>2659 in the afternoon, but the closing wasn't pretty, settling effectively u/c at 2636.

Volatility saw relatively minor swings within the 21/23 zone, settling -3.9% at 21.76.

Yours truly continues to see bounces as such. A challenge of the Feb' low of 2532 appears still on the menu. I'd actually only drop that notion if we break and hold >2800. The latter looks very difficult in the remaining 12.5 trading days of the year.
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Bonus chart: Japan, monthly

The Nikkei is currently -1203pts (5.4%) at 21148. A monthly close <21k would be decisive, and offer far lower levels in 2019. Five clear waves, and its not entirely a stretch to target 12k.
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Ten days until the winter solstice

Full moon due Dec'22nd

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

Goodnight from London
--
If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: permabeardoomster.com