Tuesday 22 September 2020

Positive chop

US equity indexes closed broadly higher, sp +34pts (1.0%) at 3315. Nasdaq comp' +1.7%. Dow +0.5%. The Transports settled +0.8%.

sp'daily5

 


VIX'daily3

 


Summary

US equities opened on a positive note, but the gains were shaky from the start, and it didn't take long for indexes to turn red.

"No one cared who I was, until I put on the mask"
 

Yet.. the declines were minor, and brief, with the market battling choppily upward into the late  afternoon.

Volatility was itself subdued, the VIX settling -3.3% to 26.86. Wednesday offers a little higher, but prime target of 3100 appears on the menu.
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Autumn begins

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Goodnight from London

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