Saturday, 3 June 2023

Weekend update - World equity markets

It was a mixed month for world equity markets, with net monthly changes ranging from -8.3% (Hong Kong), -7.3% (South Africa), -3.6% (China), -3.5% (USA), -3.0% (Australia), -1.6% (Germany), +2.1% (Russia), +2.5% (India), +4.2% (Brazil), to +7.0% (Japan).

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

Six world equity markets were net lower for May, with four net higher.

Hong Kong was very powerfully lower, whilst Japan was very powerfully higher.

The German market broke a new historic high.

The USA, Germany, Japan, India, and Chinese markets are trading above their respective monthly 10MA.

Germany, Japan, and Hong Kong, have positive monthly momentum.

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Looking ahead

The schedule is distinctly light.

Earnings:

M - GTLB

T - CIEN, ASO, SJM, CBRL, SFIX, CASY

W - OLLI, CPB, LOVE, GME, TCOM

T - FCEL, SIG, DOCU, MTN,

F - NIO

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Econ-data:

M - PMI/ISM serv', Factory orders

T -

W - Intl' trade, EIA Pet', consumer credit (3pm)

T - Weekly jobs, Wholesale invent'

F -

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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 4.20pm EST on Monday.

Friday, 2 June 2023

Climbing into the weekend

US equity indexes closed very significantly higher, SPX +61pts (1.4%) at 4282. Nasdaq comp' +1.1%. Dow +2.1%. The Transports settled +1.9%. R2K +3.6%.

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, and whilst the gains were initially shaky, there was a secondary push upward that extended into the late afternoon, settling at 4282.

Volatility was crushed into the weekend, the VIX lower for the fifth day of six, settling -6.7% to 14.60.
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Oct'2021... the Cramer touting the Magnificent Seven


All of this has happened before... and will happen again...


June 2023... the Cramer touting the Magnificent Seven

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

Goodnight from London
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11am update - morning chop

US equities are choppy, if having re-built significant gains. VIX remains repressed in the upper 14s. USD is +0.25% at 103.81... which isn't helping Gold, currently $1981.

sp'60min


VIX'60min

Summary

*sorry for the server issues...  have emailed my host. Maybe its a Chicom/Ruskie bot attack. Or did Los Angeles fall into the sea?

As for equities... we appear set for broad gains, which itself will setup at least somewhat higher next Mon/Tuesday.

Yours truly is content to sit it out until next week. A re-short from around 4300 would be extremely comfortable, not least after recently closing out from 4123.

notable stock: LULU


Earnings were impressively good.
Those selling across the past few weeks will not be in the best of moods.
The current candle is a very spiky black reversal, as we've sellers into the jump.

notable banking ETF: KRE


For another day... everything is fine again with the regional banks.
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notable steel: CLF


For no particularly good reason, the industrials are powering upward.
I'd keep in mind the recessionary PMI/ISM manu' data recently.
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notable miner: FCX

Higher with the main market, and with copper printing $3.78
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Until otherwise noted, I'll be here for the rest of today.
Bullish Google servers... I guess. 

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11.05am... SERVER back... will resume > https://www.subscriber.tradingsunset.com as of 12pm