Saturday, 4 December 2021

Weekend update - World equity markets

It was a bearish month for most world equity markets, with net monthly changes ranging from -10.7% (Russia), -7.5% (Hong Kong), -3.8% (India), -3.7% (USA, Germany, Japan), -1.5% (Brazil), -0.7% (Australia), +0.5% (China), to +0.6% (South Africa).

Lets take our regular look at ten of the world equity markets.

USA - Dow

 

Germany – DAX


Japan – Nikkei


Brazil – Bovespa


Russia - RTSI


India – SENSEX


China – Shanghai comp'


South Africa – Dow

Hong Kong – Hang Seng


Australia – AORD


Summary

Eight world equity markets were net lower for November, with two net higher. 

Russia and Hong Kong lead the way lower, whilst China and South Africa were moderately net higher.

The US and German markets broke new historic highs.

The US, Russian, Indian, Chinese, and Australian markets are holding above their respective monthly 10MA, whilst the German, Japanese, Brazilian, South African, and Hong Kong markets are below.

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Looking ahead

The schedule is pretty light, but we do have the latest CPI print, and that will merit serious attention, as it will shape policy for the final FOMC of the year (Dec'14/15).

Earnings:

M - COUP, GTLB

T - AZO, CHPT, SFIX, TOLL, CASY

W - LOVE, CPB, GME, RH

T - HRL, CIEN, LULU, CHWY, COST, AVGO, ORCL, AOUT, MTN

F -

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Econ-data:

M -

T - Intl' trade, product/costs, consumer credit

W - JOLTS, EIA Pet'

T - Weekly jobs, wholesale invent'

F - CPI, consumer sent', US T-Budget

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Winter solstice is nearing

Final note

November was a tough month for the collective of world equities, and December hasn't started so great. There is the natural concern of yet another C19 variant, but the mainstream are also concerned about the fed.

As I'll continue to note, I do NOT fear the QE taper, nor even a couple of rate hikes. The real concern should be on whether inflation itself remains restrained, or spirals out of control >10%. The latter does appear a threat by next spring, not least as we have widespread systemic breaks in the global supply chain.

There are just 19 trading days left of 2021, and regardless of how we settle the year, my thoughts are more on 2022.

 

For details, and the latest offers: https://www.tradingsunset.com

Have a good weekend

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*the next post on this page will likely appear 5pm EST on Monday.

Thursday, 2 December 2021

Not a decisive floor

US equity indexes mostly closed very significantly higher, SPX +64pts (1.4%) at 4577. Nasdaq comp' +0.8%. Dow +1.8%. The Transports settled +2.9%. R2K +2.8%.

SPX - daily5

VIX - daily3

Summary

US equities opened choppy, with the SPX printing a new cycle low of 4504, but from there... a rather powerful upside reversal to 4592, and settling at 4577. The fact neither Powell or Fauci were 'on the loose', was a distinct help.

Volatility was ground back lower, the VIX settling -10.2% to 27.95. Bulls need to clear Wednesday's high of 4652, until then... we do not yet have a decisive floor.

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Winter solstice isn't far away

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

Goodnight from London
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Wednesday, 1 December 2021

Wild Wednesday

US equity indexes closed significantly lower. SPX -53pts (1.2%) at 4513. Nasdaq comp' -1.8%. Dow -1.3%. The Transports settled -2.2%. R2K -2.2%

SPX - daily5

VIX - daily3

Summary

US equities opened significantly higher, and built gains into late morning, with the SPX printing 4652.

Meanwhile...



... as LaPalma appears set to continue into 2022.


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The afternoon saw a powerful downside swing from 4652 to a closing low of 4510, and settling at 4513. Volatility swung from 22.38 to settle +14.4% to 31.12.
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Descending into the metropolis


A fine Wednesday

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

Goodnight from London
--

 

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com