Monday, 21 September 2020

Rough start

US equity indexes mostly closed significantly lower, sp -38pts (1.2%) at 3281. Nasdaq comp' -0.1%. Dow -1.8%. The Transports settled -2.6%.

sp'daily5

 



VIX'daily3

 



Summary

US equities opened very significantly lower, pressured via an array of things, not least powerfully lower European markets, concerns over UK/European lockdown restrictions, and increased election turmoil/uncertainty.

There were a few rally attempts, with the market leaning upward into the close, the Nasdaq comp' notably close to breakeven. 

Volatility picked up, with the VIX settling +7.5% to 27.78. The daily index and vix candles are supportive to the notion of a 1-2 day equity bounce.
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The sun sets on summer 2020


Next full moon is Oct'2nd

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Goodnight from London

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