Naturally red Thursday

US equity indexes mostly closed on a weak note, sp -12pts (0.4%) at 3243. Nasdaq comp' +0.4%. Dow -0.9%. The Transports settled u/c.


sp'daily5

VIX'daily3

Summary

US equities opened broadly weak, especially pressured via lousy econ-data, and European markets.

The following does make for a historically bad econ data point...

The Santelli of CNBC, highlighting a historically bad GDP print

Print'1 for Q2 GDP came in at -32.9%, verses -5.0% for Q1. Revisions could easily be +/- 5%, perhaps even 10% difference. In any case... its the most horrific data print we've ever seen. Things can only improve from here.

The SPX swung from a morning low of 3204 to 3250 in the late afternoon, but with most indexes still settling on the weaker side.

Volatility was mixed, the VIX spiking to 28.29, but settling +2.7% at 24.76. The SPX candle was a red reversal, with a mirroring black VIX candle, and they lean s/t bullish equities, at least for part of Friday.
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A fine summer's day

Full moon is August 3rd

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Goodnight from London
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Extraordinarily uncertain

US equity indexes closed broadly higher, sp +40pts (1.2%) at 3258. Nasdaq comp' +1.3%. Dow +0.6%. The Transports settled +2.2%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, and built significant gains into the early afternoon.

Meanwhile...

The swearing CEOs of AMZN, FB, GOOGL, and AAPL

The FOMC was mostly a non-event, with Powell deeming the forward path for the economy as being 'extraordinarily uncertain, and noting he is not... 'thinking about, thinking about, thinking about raising rates'. The only thing of historical note...

More boxes than an Amazon warehouse

The afternoon saw the SPX push to 3264, and settling sig' higher at 3258.

Volatility was subdued, the VIX melting lower, settling -5.3% at 24.10.
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The London skies remain notably absent of planes

Twilight moon

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Goodnight from London
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Leaning weak ahead of the fed

US equity indexes closed broadly weak, sp -20pts (0.6%) at 3218. Nasdaq comp' -1.3%. Dow -0.8%. The Transports settled -1.2%.

sp'daily5

VIX'daily3

Summary

US equities opened in chop mode, leaning on the weaker side. The SPX saw a morning low of 3221, and then upward into the afternoon to 3243.

Meanwhile...

It was day'1 of the FOMC. Clearly, no policy change can be expected. However, its probable the CEO of Print Central - Powell, will reiterate his support for further fiscal stimulus. 

Wargames (1982)

No doubt the Fed is ready, willing, and able to buy another $1trn or more of US t-bonds. I have to wonder what the Fed version of the WOPR is projecting for the US election, and into 2021?

The late afternoon saw a moderate cooling wave. Volatility picked up into the close, the VIX settling +2.8% to 25.44. Wednesday afternoon should offer some drama, and who doesn't like that?
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A fine end to the day

Next full moon is August 3rd

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

Goodnight from London
--
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