Friday, 27 May 2022

Into the long weekend

US equity indexes closed on a very positive note, SPX +100pts (2.5%) at 4158. Nasdaq comp' +3.3%. Dow +1.8%. The Transports settled +2.1%. R2K +2.7%.

SPX - daily

VIX - daily

Summary

US equities opened broadly higher, and built very significant gains into the early afternoon.

Meanwhile...

 

 

Lebenthal is one of the mainstream who remains in denial about the recession. I almost envy such hope. For the average US consumer, higher electric, Nat' gas, gasoline, and food, will make for a very difficult summer.

The afternoon saw considerable micro chop, if still leaning upward, to end the week at the highs.

Volatility was naturally ground lower into the long weekend, the VIX settling -6.5% to 25.72.
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Fuel prices in the UK break new records...

Gasoline: 171.9 x 3.785 x 1.2626 = $8.21
Diesel: 182.9 x 3.785 x 1.2626 = $8.74
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Sustained high oil/fuel prices won't help the airlines


A fine end to the week


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

Goodnight from London
--

 

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Thursday, 26 May 2022

Reflecting back

US equity indexes closed very significantly higher, SPX +79pts (2.0%) at 4057. Nasdaq comp' +2.7%. Dow +1.6%. The Transports settled +2.9%. R2K +2.2%. 

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, and built very significant gains into the afternoon.

Meanwhile... reflecting back, to just over a year ago...

It was barely a handful of months later, that Powell would begin the 'Transitory' nonsense.


... with Aunt Janet... similarly a believer in 'transitory'. I'd note the US 10yr, having since doubled.

Further, many of the mainstream cheerleaders are still in denial of the recession...




I hold to that, as based on recent econ-data and various corporate outlooks, Q2 GDP might come in -2.5% or worse. Ohh, and do you think Q3 will be better than Q2 ?
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The late afternoon saw the SPX print a new bounce high of 4075.
Volatility was ground lower, the VIX settling -3.1% to 27.50.


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

Goodnight from London
--

 

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Wednesday, 25 May 2022

Midweek gains

US equity indexes closed broadly higher, SPX +37pts (0.9%) at 3978. Nasdaq comp' +1.5%. Dow +0.6%. The Transports settled +1.2%. R2K +1.8%. 

SPX - daily

VIX - daily

Summary

US equities opened a little weak, with the SPX cooling to 3925, but swung upward to 3979. The afternoon saw considerable chop.

Volatility was ground a little lower, the VIX settling -3.7% to 28.37. Tomorrow is a Thursday, which tends to favour the equity bears.
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The mighty Airbus A380

A fine end to the day

 
 

Bullish cats


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

Goodnight from London
--

 

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