Thursday 11 August 2022

A new cycle high

US equity indexes closed moderately mixed, SPX -2pts (0.1%) at 4207. Nasdaq comp' -0.6%. Dow +0.1%. The Transports settled +0.7%. R2K +0.4%.

SPX - daily

VIX - daily


US equities opened on a broadly positive note, helped with cooler PPI. The SPX broke a new cycle high of 4257.


Something to reflect upon...


The afternoon saw a little cooling, with the SPX settling fractionally negative. With a new cycle high, its to be seen as a net bullish day.

Volatility was subdued, the VIX settling +2.3% to 20.20. The s/t cyclical setup favours the bears, at least for early Friday.

Another fine August day


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

Goodnight from London


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