Monday, 16 November 2020

Just another vaccine Monday

US equity indexes closed broadly higher, sp +41pts (1.2%) at 3626. Nasdaq comp' +0.8%. Dow +1.6%. The Transports settled +2.6%. 






Last Monday saw the market ramp on Pfizer vaccine news. Today saw the market ramp (if distinctly less) with vaccine news from Moderna. 

With the mighty Dow near 30K...

There is background chatter that both Pfizer and perhaps Moderna held back positive vaccine news until this side of the election. 


... as the degree of moral hazard in the early 21st century continues to worsen. We're not far from the point where those not in debt might be on some kind of 'financial terrorist' watchlist. 

The afternoon saw a little cooling to sp'3602, with positive leaning chop into the close.

Volatility was itself subdued, the VIX settling -2.8% to 22.45.

Perhaps the following makes more sense than anything today...

Baby Yoda... this is the way... to the ISS

Extra charts in AH (usually around 5pm EST) @

Goodnight from London

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