Saturday, 28 November 2020

Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.0% (Nasdaq comp'), +2.7% (NYSE comp', Transports), +2.3% (SPX), to +2.2% (Dow).

Lets take our regular look at five of the main US indexes

sp'500


Nasdaq comp'


Dow


NYSE comp'


Trans


Summary

All five US equity indexes were net higher for the week.

The Nasdaq comp' lead the way higher, with the Dow lagging.

The Nasdaq comp', Dow, NYSE comp', and Transports broke new historic highs.

More broadly, all five US equity indexes are holding above their respective monthly 10MA, and I thus see the m/t trend as bullish.

 

Looking ahead

Earnings:

M - ZM

T - NTAP, MOMO, CRM, BOX, HPE, VEEV

W - RENN, CRWD, FIVE, OKTA, RH, SNOW, SPLK, ZS, PVH

T - KR, DG, SIG, CBRL, CLDR, DOCU, MRVL, SWBI, ULTA, MIK

F - BIG, TRX

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Econ-data/events

M - Chicago PMI, Pending home sales

T - PMI/ISM manu', construction, vehicle sales

W - ADP jobs, EIA Pet', Fed Beige book

T - Weekly jobs, PMI/ISM serv'

F - Monthly jobs, intl' trade, factory orders.

*as Monday is end month, expect more dynamic price action on higher vol'

-

Final note

We have just 23 trading days left of the year. For most, its a year to forget, but as things are, equities are set for net yearly gains of 10-15%. Its impressive, but then the Fed returned to ZIRP, and printed off $3trn.

There is the matter of the election, whose result is yet to be finalised. Whilst that is an issue of uncertainty - not least if Trump takes the matter to the Supreme Court, the market should be able to broadly climb into year end. Certainly, the short/mid term trend is supportive of higher levels in December.

I will merely add, it should be clear, there is no turning back from the dark path that the species has decided to take. Coming soon... a cashless financial system, a communistic government, and a perpetual state of viral paranoia, with no realistic hope of escaping the horror within... the twilight zone.

Yours... a spectator to humanity

 --


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Have a good weekend

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

Friday, 27 November 2020

Leaning upward into the weekend

US equity indexes mostly closed on a positive note, SPX +9pts (0.2%) at 3638. Nasdaq comp' +0.9%. Dow +0.1%. The Transports settled -0.5%. 

sp'daily5


VIX'daily3


Summary

US equities opened on a positive note, with the SPX printing 3644, just 1pt shy of the recent historic high. The late morning saw some cooling, arguably not helped by...


The 12pm/closing hour saw the SPX turn fractionally negative to 3629, with a minor bounce in the final half hour.

Volatility was subdued, the VIX flash printing 19.51 in pre-market, and settling -1.9% to 20.84. 

*there is a minor discrepancy in the stockcharts closing prints for SPX and VIX. 
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Clouds breaking after sunset


Full moon.... Monday Nov'30th


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 want more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Thursday, 26 November 2020

Thanksgiving

A little glimpse into the land of yours truly, for what is Thanksgiving, on the eastern side of the Atlantic.

Thanksgiving sunshine


Social distancing for the societal elite


Sunset... 3.14pm GMT


Autumnal colours


Nearing 100%

I am thankful for...

My legion of >9k on Twitter.

My mini legion of subscribers/supporters, without whom I'd have stopped typing some years ago.

The mighty Pete Najarian, whom in addition to retweeting an overly generous number of my tweets, continues to inspire me to be more professional, which itself remains... a work in progress.

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... and to J, who has always been a positive to each day. 


Yours... P
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*the next post on this page will appear around 1.15pm EST on Fri' Nov'27th