Midweek swings

US equity indexes closed broadly higher, sp +29pts (0.9%) at 3226. Nasdaq comp' +0.6%. Dow +0.9%. The Transports settled +2.9%.

sp'daily5

VIX'daily3

Summary

US equities opened on a significantly positive note, inspired by the late Tuesday headline on the Moderna vaccine candidate. The SPX saw a morning high of 3238, but cooled to psy'3200.

Meanwhile...

Even though he is a distant memory to many, ex fed chair - the Ben Bernanke, is touting more bailouts, this time for the individual states. Who will effectively fund this? Ohh yeah... Print Central!

The afternoon saw considerable chop, with a closing hour cooling wave to 3210, but then spiking upward to settle at 3226.

UK Govt' TV advert

Here in the UK, the latest propo' from the government is touting a new start, with 'Lets get going'. Ohh right, masks in all shops, that is progress, right? What about the collapsed tourism and travel industry, the bars, or the restaurants? What about those? What are they supposed to do for the rest of the year?

Volatility was itself subdued, the VIX settling -6.0% to 27.76.

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

Goodnight from London
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Tuesday rebound

US equity indexes closed significantly higher, sp +42pts (1.3%) at 3197. Nasdaq comp' +0.9%. Dow +2.1%. The Transports settled +1.7%.

sp'daily5

VIX'daily3

Summary

Tuesday opened especially messy, with the SPX printing 3127, but then leaning upward (if very choppily) in the late afternoon to 3200, and settling at 3197.

Meanwhile...

The market wasn't pleased with the latest CPI data, which came in distinctly hotter than expected. What happens if the July print (in mid August) comes in >1.0% ? The fed can't possibly with draw liquidity or raise rates. Print Central is firmly... boxed in. 

VIX printed 33.67, but was ground back lower, settling -8.3% at 29.52.

--
Extra charts in AH (usually around 5pm 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

 

Sunset into the twilight zone

A little glimpse of the world of yours truly...

A little evening peace

9.00pm BST... in the London metropolis

Sunset on another day... and year, for yours truly.

Remaining... a rare sight

Still (not) open 24hrs

Its been four months - the distant days of March 12th, since I ventured into a shop. Its certainly not because I'm concerned about the Chinese virus (why would I be?), I've simply no tolerance for being around any of the hysterical unwashed (literally... in many cases) sheep, or to play along with any kind of 'medical theatrics'. 

UK retail will never be the same, and neither will US/global, as the shift to online ordering has been accelerated.
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Sunset into the twilight zone

... another sunset... into the twilight zone. If I make it through another year... I'll be somewhat surprised.
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**The next post on this page might appear Tuesday.