Wednesday, 9 September 2020

Main market bounce

US equity indexes closed very significantly higher, sp +67pts (2.0%) at 3398. Nasdaq comp' +2.7%. Dow +1.6%. The Transports settled +1.5%.

sp'daily5



VIX'daily3



Summary

US equities opened significantly higher, and built powerful gains into the late afternoon. The SPX printed 3424, before cooling into the close, settling at 3398. Volatility naturally melted lower, the VIX settling -8.4% to 28.81.    

Thursday will threaten a cooling wave, before a secondary bounce wave, that might stretch into next week.
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Goodnight from London
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