Minor gains into the weekend

US equity indexes closed a little higher, sp +6pts (0.2%) at 3110. Nasdaq comp' +0.2%. Dow +0.4% The Transports settled +1.0%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, but the gains were shaky, with the SPX slipping to 3099 in late morning. The afternoon saw a recovery to minor gains.

Volatility was subdued, with the VIX melting into the weekend, settling -6.0% at 12.34. S/t outlook favours the equity bears. Today's SPX daily candle was black, with s/t price structure of a bear flag. Basic target is the 3050/36 zone, which should equate to a VIX spike to 16/17s.
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Meanwhile...

The following guy didn't seem to know that Tesla usually sells off after a product reveal...



On any basis, its pretty disturbing, as he lost more money on a single trade, than some earn in a low-end job, in an entire year.

As for Tesla's Cybertruck...


Its certainly a provocative design, but maybe they'll make it less boxy, before production is supposed to begin in late 2021.

Corporate lesson of the day: If you're going to test the strength of the glass, do it at the end of the presentation. Seeing Elon stand there, trying to continue in front of a smashed product.... not great.
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Today's political mail...

.. was from the Liberal Democrats, who are playing the 'think of the children' card, along with promises to spend more (via debt... no doubt). In any case, they can't win, but they could form a coalition with Corbyn/Labour.
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No sun or moon today, and so I shall end today with the best of humanity...

Just another day on ISS

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Goodnight from London
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Awaiting more spooky news

US equity indexes closed a little weak, sp -4.9pts (0.2%) at 3103. Nasdaq comp' -0.2%. Dow -0.2%. The Transports settled -0.1%. Near term outlook offers another wave lower to the sp'3050/46 zone.

sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, and leaned to 3094. Price action was choppy into the afternoon.

Volatility picked up, with the VIX settling + % at 13.   .

Yesterday saw a break of s/t rising trend, with s/t equity price structure of a bear flag. If the Wednesday low of 3091 can be taken out - whether tomorrow, or early next week, it will offer a fast run to next downside gap of the 3050/36 zone, which might equate to VIX 17/18s. 

More 'spooky news' - namely... US/China trade related, appears due within the immediate term. If the Chinese make it clear 'no phase'1 trade deal' before year end, the market will broadly slide into end month/early December.

Sidenote: It should be clear, the US President has been increasingly intolerant of any degree of equity downside in recent months. If we do cool to the mid/low sp'2900s, it will be fascinating to see how Trump reacts on Twitter. 

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Goodnight from London
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Downside break

US equity indexes closed broadly weak, sp -11pts (0.4%) at 3108. Nasdaq comp' -0.5%. Dow -0.4%. The Transports settled -1.4%.

sp'daily5

VIX'daily3

Summary

US equities opened a little weak, but quickly slipped into minor chop mode. Things turned interesting in the 12pm hour...

... with the mainstream realisation that phase one won't likely be signed before year end, the market broke lower. S/t rising trend was taken out, along with a few other aspects of support.

The afternoon saw a low of sp'3091 with VIX 14.17, before a moderate recovery into the close. Volatility picked up, with the VIX settling --0.6% at 12.78.

Regardless of overnight/early Thursday, today did see a key downside break, and it offers a broader washout into early December. We have SIX downside gaps, with the sixth of 2911/2893. Whilst that doesn't have to be tagged... the historical percentages favour it. 
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Departing the capital of geo-political chaos

Another cold day in the London metropolis

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

Goodnight from London
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