Thursday 29 October 2020

Thursday rebound

US equity indexes closed significantly higher, sp +39pts (1.2%) at 3310. Nasdaq comp' +1.6%. Dow +0.5%. The Transports settled +2.2%.

sp'daily5

 


VIX'daily3

 


Summary

US equities opened on a choppy note, with the SPX breaking a new cycle low of 3259, before battling back upward.

Meanwhile...


The first print of Q3 GDP came in at +33.1%, vs -31.4% prior/Q2.


Another day... another rally
 

The market clawed to sp'3341... an effective tag of Wednesday's opening gap, The closing hour saw some cooling, settling at 3310.

Volatility cooled back, the VIX settling -6.7% to 37.59. The sp'3100s with VIX >50 appear a high threat ahead of the Tuesday/pre-election close.


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

Goodnight from London
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