Thursday 22 October 2020

Pre-debate chop

US equity indexes closed on a positive note, sp +17pts (0.5%) at 3453. Nasdaq comp' +0.2%. Dow +0.5%. The Transports settled +0.2%.

sp'daily5


VIX'daily3


Summary

US equities opened in minor chop mode, and took a swing lower, with a bounce from key price threshold of the 3415s.

Meanwhile...


The US President issued a pre-market (7.01am EST) warning of 'Depression!'
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The afternoon saw a swing upward to 3460, and settling at 3453.

Volatility was mixed, the VIX seeing an early minor spike to 30.12, and settling -1.9% at 28.11.

Thursday evening will see the second and final debate between US President Trump and former VP Joe Biden. Mr Market will clearly be watching. With daily equity momentum having turned negative, the setup into the weekend will lean to the bears. The wild card... any further news on stimulus from Pelosi or Mnuchin.
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A fine autumnal sunset

Headed to the moon?

The moon... and mighty Jupiter

Full moon is Halloween


Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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