Wednesday, 16 September 2020

Post fed depression

US equity indexes closed rather mixed, sp -15pts (0.5%) at 3385. Nasdaq comp' -1.2%. Dow +0.1%. The Transports settled +0.7%.

sp'daily5



VIX'daily3



Summary

It was a relatively subdued fed day, with the SPX pushing to 3428 on the fed press release, but then swinging (if gently) lower into the late afternoon to 3384, for what was arguably a case of post fed depression.

The CEO of Print Central

Notable stock: Snowflake (SNOW), 1min, 1 day


Who doesn't like some mainstream hysteria? The latest tech-software company, trading at >100x sales. Whats not to like?

Volatility was itself subdued, the VIX settling +1.8% at 26.04. Thursday offers some equity weakness, but anything significant/sustained appears unlikely this side of the weekend/OPEX.
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Spot the 1%

Summer is about ended
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Goodnight from London
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