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

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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.

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.

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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.
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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