Leaning upward into the weekend

US equity indexes closed broadly higher, sp +32pts (1.0%) at 3185. Nasdaq comp' +0.7%. Dow +1.4%. The Transports settled +1.9%.

sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, the SPX seeing an early low of 3136, but then leaning upward all the way into the very late afternoon to 3186, and settling significantly higher at 3185.

Volatility saw an early high of 30.91, but then melted lower, settling -6.7% at 27.29.
--

The first sun since Monday

--
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

 

Thursday troubles

US equity indexes mostly closed on a weak note, sp -17pts (0.6%) at 3152. Nasdaq comp' +0.5%. Dow -1.4%. The Transports settled -1.9%.

sp'daily5

VIX'daily3

Summary

US equities opened in chop mode, and from an initial high of sp'3179, price spiraled to 3115 in late morning.

Meanwhile...

The Santelli

The weekly jobless claims came in at 1.314M vs 1.413 prior, with continuing claims at 18.06M. Whilst it was another improvement, the rate of change isn't great, and even the mainstream cheerleaders are starting to get concerned at the stalling recovery. 

The afternoon saw a recovery from 3115 to 3164, with some closing hour chop, leaning on the weaker side.

Volatility picked up, the VIX swinging from an early low of 26.11 to 31.48, and settling +4.2% to 29.26. The bigger daily equity and VIX cycles are swinging away from the equity bulls/volatility bears, and offer some 'drama' for at least a few weeks... and who doesn't like some market drama?
--

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

 

Broadly choppy

US equity indexes closed broadly higher, sp +24pts (0.8%) at 3169. Nasdaq comp' +1.4%. Dow +0.7%. The Transports settled +0.5%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, but the spx maxed out at 3171, with a cooling wave to 3136.

The US President appeared at 9.50am EST...

--
Meanwhile...

Global Corona cases, as of midday Wednesday July 8th 2020, totaled 11,884,799, with deaths of 545398. The death rate (as % of global popn - 7.8bn) is currently 0.00007%. It remains the case that very few are aware of the latter number. Certainly, various governments have no interest in highlighting it, for fear the populace will have increased justification to revolt against ongoing restrictions.
--

The afternoon saw further chop, with a mini ramp into the close, settling just 2pts shy of the morning high. Broadly though, price action remains choppy within 2965/3233 since early June.

Volatility remained relatively subdued, the VIX settling -4.6% to 28.08.

--
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