June settles

US equity indexes mostly closed on a positive note, SPX +5pts (0.1%) at 4297. Nasdaq comp' -0.2%. Dow +0.6%. The Transports settled +0.2%.

SPX - daily5

VIX - daily3

Summary

June settled with considerable minor chop, but with the SPX managing to break a new historic high of 4302 in the final minutes, which typified the month, quarter, and first half of 2021.

Meanwhile...

"Another happy landing" - Kenobi

Volatility melted lower into end month, the VIX settling -1.2% to 15.83.

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

Goodnight from London
--

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England 2 - 1 SPX

US equity indexes closed fractionally higher, SPX +1pt (0.03%) at 4291. Nasdaq comp' +0.2%. Dow +0.03%. The Transports settled +0.1%.

SPX - daily5

VIX - daily3

Summary

It was another day of considerable chop, but with the SPX breaking yet another new historic high of 4300. The afternoon saw a little cooling, as the market is s/t overbought.

Meanwhile...

Near the land of yours truly

Some remain very fearful

A rare English victory

Volatility was subdued, the VIX settling +1.6% to 16.02.

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

Goodnight from London
--

 
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Underlying upside power

US equity indexes closed rather mixed, SPX +9pts (0.2%) at 4290. Nasdaq comp' +1.0%. Dow -0.4%. The Transports settled -0.9%.

SPX - daily5

VIX - daily3

Summary

The week began with considerable chop, and some distinct sector/index disparity. More than anything though, new historic highs in the SPX and Nasdaq comp' were another reminder of underlying upside power.

Meanwhile...

I will simply note here (as its Google/Youtube)... the issues raised are very important.

The afternoon saw considerable chop, with the SPX even managing a new historic high.

Volatility was subdued, the VIX settling +0.9% to 15.76.
-

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

Goodnight from London
--

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Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.4% (Dow), +3.2% (NYSE comp'), +2.7% (SPX), +2.4% (Transports), to +2.3% (Nasdaq comp').

Lets take our regular look at five of the main US indexes

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

All five US equity indexes settled net higher for the week.

The Dow lead the way upward, with the Nasdaq comp' lagging.

The SPX and Nasdaq comp' broke new historic highs.

More broadly, all five US equity indexes are trading above their respective monthly 10MA, and I thus see the m/t trend as bullish.

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Looking ahead

Earnings:

M -

T - NG

W - BBBY, STZ, GIS, MU, YUMC

T - WBA, AYI

F -

-

Econ-data/events

M -

T - Case-Shiller HPI, consumer con'

W - ADP jobs, Chicago PMI, Pending home sales, EIA Pet'

T - Weekly jobs, PMI/ISM manu', construction, vehicle sales

F - Monthly jobs, Intl' trade, factory orders.

*There will be an element of end quarter/first half 'squaring off' on Wednesday.

*As the following July 5th is CLOSED for Independence Day, the preceding Friday will be inclined for considerable chop on lighter vol'.

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Final note

After a rough Friday close, last weekend saw the crash callers appearing all over the place. Yet rather than further downside, the market saw a very significant rebound, with a few indexes even breaking new historic highs.

Equities appear set to continue broadly climbing into/across Q2 earnings season. Unless there is a sporadic severe geo-political 'event', there is little reason the bulls won't be able to hold the ball at least until Labor day. From there, the market will be increasingly prone to break (if briefly) on concerns of 'high inflation > rate hikes sooner than expected'. 

You can justly argue that some stocks are grossly over-valued, but that certainly isn't the case for everything. The energy sector remains cheap... certainly relative to WTIC. Do I need to highlight OXY and SLB again?

This market appears set for higher levels in July/Q3/H2, and all those crash calling maniacs are going to be back in their basements this weekend, and probably... for much of the summer. 

For more charts, and whatever else I want to post about - outside the control of the mainstream media hacks, you know where to find me in... the twilight zone.

-

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

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*the next post on this page will likely appear 5pm EST on Monday.

Bullish end to a bullish week

US equity indexes mostly closed on a positive note, SPX +14pts (0.3%) at 4280. Nasdaq comp' +0.1%. Dow +0.7%. The Transports settled -0.04%.

SPX - daily5

VIX - daily3

Summary

US equities ended a bullish week on a bullish note, the SPX breaking a new historic high of 4286.

Meanwhile...

Britain vainly trying to pretend its still an empire, as it entered Russian territorial waters. The restraint of the Russian forces was... admirable.
-

The afternoon saw considerable equity chop, but settling on a positive note.

Volatility was subdued, the VIX settling -2.2% to 15.62.
-

Summer storms

Summer sun

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

Goodnight from London
--

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Historic highs on a Thursday

US equity indexes closed broadly higher, SPX +24pts (0.6%) at 4266. Nasdaq comp' +0.7%. Dow +0.9%. The Transports settled +0.5%.

SPX - daily5

VIX - daily3

Summary

US equities opened broadly higher, with the Nasdaq comp' and SPX breaking new historic highs. For a Thursday... such new highs are especially impressive.

Meanwhile...

Three cheerleaders. Three masks.

JPM appears set to require, or rather 'mandate' specific health drugs/treatments, and demand updates to their employee's biological code. Will the CEO of JPM be dragged before the TRELIX C22 hearings in 2027?
-

The afternoon saw considerable chop, if leaning a touch cooler. Volatility was subdued, the VIX settling -2.1% to 15.97.  

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

Goodnight from London
--

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Midweek chop

US equity indexes closed a little mixed, SPX -4pts (0.1%) at 4241. Nasdaq comp' +0.1%. Dow -0.2%. The Transports settled -0.2%.

SPX - daily5

VIX - daily3

Summary

It was a day of considerable chop, but the Nasdaq comp' did break another new historic high.

Meanwhile...

... for what was just another day in the twilight zone. If Tuna sandwiches don't have Tuna in them... what are they comprised of ?

The afternoon saw considerable minor chop, leaning a touch weak into the close. Volatility was subdued, the VIX settling -2.0% to 16.32.
-

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

Goodnight from London
--

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Nasdaq new historic high

US equity indexes closed on a positive note, SPX +21pts (0.5%) at 4246. Nasdaq comp' +0.8%. Dow +0.2%. The Transports settled +0.2%.

SPX - daily5

VIX - daily3

Summary

It was a second day for the equity bulls. Most notable was the new historic high in the Nasdaq comp', which is impressive after broad chop since February. 

The afternoon saw further upside, with the SPX just 2pts shy of last week's high of 4257.

Volatility was ground lower, the VIX settling -6.9% to 16.66. 
-

Post solstice sun

Full moon is this Thursday

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

Goodnight from London
--

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Starting positive

US equity indexes closed broadly higher, SPX +58pts (1.4%) at 4224. Nasdaq comp' +0.8%. Dow +1.8%. The Transports settled +1.9%.

SPX - daily5

VIX - daily3

Summary

US equities began the week on a positive note, with indexes building gains across the day.

Meanwhile...

 

It remains the case that sort of vague prediction is... good work if you can get it.

Volatility was naturally ground lower, the VIX settling -13.6% to 17.89.

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

Goodnight from London
--

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Weekend update - US equity indexes

It was a bearish week for US equity indexes, with net weekly declines ranging from -4.6% (Transports), -3.4% (Dow), -3.3% (NYSE comp'), -1.9% (SPX), to -0.3% (Nasdaq comp').

Lets take our regular look at five of the main US indexes

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

All five US equity indexes were net lower for the week.

The Transports lead the way lower, with the Nasdaq comp' resilient.

The SPX broke a new historic high.

More broadly, all five US equity indexes are trading above their respective monthly 10MA, and I thus see the m/t trend in all five as bullish.

–

Looking ahead

Earnings:

M -

T - PLUG

W - WGO, KBH, FUL

T - DRI, ACN, CCL, RAD, BB, FDX, NKE

F - JKS, KMX, PAYX

-

Econ-data/events

M -

T - Existing home sales

W - Intl. trade, PMI manu', PMI serv', new home sales, EIA Pet',

T - Weekly jobs, durable goods orders, GDP Q1 (print 3)

F - Pers' income/outlays, consumer sent'

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Final note

Friday ended on a pretty ugly note, but it'd seem almost everyone holds the view that if the market isn't breaking a new historic high EVERY... SINGLE... DAY, then 'a crash is clearly underway'. Most have little to zero perspective, and would rather focus on the Friday drop, rather than the SPX printing a new historic high... just a handful of days earlier.

It should be clear as crystal, that the market and mainstream cheerleaders, will be more than willing to play along with the Fed's notion that inflation will be 'transitory' for some months. It should also be clear that rate hikes are being systematically brought forward. This past FOMC saw a projected move in rate hikes from 2024 to 2023. In another few months, even Print Central will be alluding, or outright forecasting rate hikes in 2022.

Ohh, and if you think we're in the process of returning to even 'semi-normalcy', I suggest you go outside for an hour or two. Take a look at those around you. Do you see it?

In any case, we have an interesting summer ahead, as the printing continues to juice almost every asset class, with the madness of ZIRP that directly supports a shift of wealth from the working poor to the societal/political elite. Congratulations.

For charts, and whatever else I want to post about - outside the control of the mainstream media hacks, you know where to find me in... the twilight zone.

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

--

*the next post on this page will likely appear 5pm EST on Monday.