Wednesday, 4 November 2020

Powerfully higher

US equity indexes mostly closed very significantly higher, sp +74pts (2.2%) at 3443. Nasdaq comp' +3.8%. Dow +1.3%. The Transports settled -1.5%. 






US equities opened very significantly higher, and built powerful gains into the early afternoon, with the SPX printing 3486. 


 ... which sums up the early 21st century.

The afternoon saw some cooling to 3442, and settling at 3443. With the election out of the way, volatility collapsed, the VIX settling -16.8% to 29.57. 

Here in the land of yours truly, with the populace once more on effective house arrest, one of the mid/upper tier retailers - John Lewis, has decided to close for 'some time'.


Ohh, sure they'll have online sales, but the lost 'spontaneous' purchases from Christmas shoppers is set to be largely lost. Along with most other UK retailers, John Lewis' 20th century 'department store' business model was already problematic, and this secondary lockdown might be enough to destroy the business entirely. Maybe they'll just apply for a bailout from the UK Treasury, and become another zombie company?

Ohh, and as for the election, if Trump doesn't win, then we're about to jump over the proverbial cliff into an abyssal trench... deep within the twilight zone.

Lockdown city


Waning moon

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

Goodnight from London

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