Falling into the weekend

US equity indexes closed very significantly lower, sp -50pts (1.9%) at 2599. Nasdaq comp' -2.3% at 6910. The two leaders - Trans/R2K, settled -1.6% and -1.5% respectively. VIX settled +4.7% at 21.63.


sp'daily5

VIX'daily3

Summary

US equities opened significantly lower, pressured via overnight Asian and European markets, all of which were spooked by some weaker than expected econ-data. The closing hour broke a new intraday low of 2593, as many were (understandably) unwilling to get involved ahead of the weekend.

Volatility settled moderately higher in the mid 21s. Relative to equities, the VIX remains bizarrely low, and arguably should be well north of 30.


Bonus chart: Germany, monthly

The DAX is lower for a fifth consecutive month, currently -2.9% at 10924. Psy'10K support, but a grander run to 8k appears on track. The German market and economy bodes very bad for the rest of the European markets/economies in 2019.
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Winter solstice is near

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

Goodnight from London
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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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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
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