Friday, 26 June 2020

Ending on a rough note

US equity indexes closed very significantly lower, sp -74pts (2.4%) at 3009. Nasdaq comp' -2.6%. Dow -2.8%. The Transports settled -2.2%.

sp'daily5



VIX'daily3



Summary

US equities opened on a moderately weak note, and after an initial rally attempt, spiraled lower into the early afternoon, largely on increased Corona concerns.

Meanwhile...

The best of America and humanity... upgrading ISS, just east of Florida

The afternoon saw further weakness to sp'3004, settling at 3009, notably under the 200dma.

Volatility picked up, with the VIX settling +7.8% to 34.73. The 39/40s appear probable before end month, and that would arguably equate to spx <3k.
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Storms clearing

A fine end to the day

33.7% moon
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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Thursday, 25 June 2020

Late day ramp

US equity indexes closed significantly higher, sp +33pts (1.1%) at 3083. Nasdaq comp' +1.1%. Dow +1.2%. The Transports settled +1.2%.

sp'daily5



VIX'daily3



Summary

US equities opened on a weak note, pressured by further Corona concerns, but also by the latest weekly jobs data. The market saw considerable chop into the mid afternoon.

There was a closing hour ramp... for no good reason, with s/t momentum turning positive. Whilst the mainstream cheerleaders attributed the reason for the ramp as due to loosening of the Volcker rule, that news/chatter was out in pre-market.  

Volatility saw an early (cash market) high of 36.34, before melting lower into the mid afternoon, and getting whacked into the close, the VIX settling -4.8% to 32.22.

Your view...


A majority (if marginal) of you believe June will settle above 3K.
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Summer time in the park

Next full moon is July 5th
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
--
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Wednesday, 24 June 2020

Renewed Corona concerns

US equity indexes closed very significantly lower, sp -80pts (2.6%) at 3050. Nasdaq comp' -2.2%. Dow -2.7%. The Transports settled -3.1%.

sp'daily5



VIX'daily3



Summary

US equities opened broadly lower, and after an initial attempt to reverse upward, the market spiraled lower on renewed mainstream Corona concerns. The 12pm hour saw sp'3032, then a bounce into the closing hour to 3067, with a closing minutes dive to settle at 3050.

Head against the desk.

Even Cheerleader Cramer is getting tired of the increasingly stupid stock upgrades, this time from Heather Bellini of Goldman Sachs.

Volatility picked up, with the VIX spiking to the 37s, and settling +7.9% at 33.84. With just four trading days left of June, its now merely a case of whether we settle the month above or below 3K.
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Next full moon is July 5th.
--
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