June/Q2/H1 settle

US equity indexes closed on a positive note, SPX +53pts (1.2%) at 4450. Nasdaq comp' +1.4%. Dow +0.8%. The Transports settled +0.1%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities opened broadly higher, helped by positive European markets, and better than expected inflation (PCE) data. The SPX built significant gains into the late afternoon to print a new multi-month high of 4458, and settling at 4450. 

SPX...

Net weekly gain +102pts (2.3%)
Net monthly gain +270pts (6.5%)
Net H1 gain +608pts (15.9%)

Volatility remained repressed, the VIX settling +0.4% to 13.59.

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Goodnight from London
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Positive leaning chop

US equity indexes mostly closed on a positive note, SPX +19pts (+0.4%) at 4396. Nasdaq comp' u/c. Dow +0.8%. The Transports settled +0.7%. R2K +1.3%

SPX - daily

VIX - daily

Summary

Pre-market moderate gains were eroded by better than expected GDP data (2.0% vs 1.3% print 2), as the market is back to 'good news is bad news'. US equities opened in minor chop mode.

The SPX still battled upward though to 4398, and settling at 4396.

Volatility remained repressed, the VIX settling +0.8% to 13.54.
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Full moon will be July 3rd

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

Goodnight from London
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Broadly tedious

US equity indexes closed moderately mixed, SPX -1pt (0.03%) at 4376. Nasdaq comp' +0.3%. Dow -0.2%. The Transports settled +0.8%. R2K +0.5%

SPX - daily

VIX - daily

Summary

US equities saw considerable chop, as price action remains broadly tedious.

Volatility was ground lower, the VIX settling -2.3% to 13.43

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

Goodnight from London
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A positive Tuesday

US equity indexes closed significantly higher, SPX +49pts (1.1%) at 4378. Nasdaq comp' +1.6%. Dow +0.6%. The Transports settled +2.7%. R2K +1.4%

SPX - daily

VIX - daily

Summary

US equities opened a little higher, but did build significant gains into the late afternoon.

Volatility was ground lower, the VIX settling -3.6% to 13.74.

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

Goodnight from London
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A tedious Monday

US equity indexes closed very mixed, SPX -19pts (0.4%) at 4328. Nasdaq comp' -1.2%. Dow -0.03%. The Transports settled +1.4%. R2K +0.1%

SPX - daily

VIX - daily

Summary

US equities opened in minor chop mode, and remained that way across the day.

Volatility was net higher, but the gain was largely technical, the VIX settling +6.0% to 14.25.  
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–

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 -2.9% (R2K), -2.1% (NYSE comp'), -1.7% (Dow), -1.4% (SPX, Nasdaq comp'), to -0.7% (Trans).

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

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

All six US equity indexes settled net lower for the week.

The R2K lead the way lower, whilst the Transports was most resilient.

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Looking ahead

Earnings:

M - CCL

T - WBA, JEF, NG

W - GIS, MU, BB, FUL

T - PAYX, RAD, AYI, NKE

F - STZ

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Econ-data/events

M -

T - Durable Goods orders, Case-Shiller HPI, new home sales, consumer con'

W - Intl' trade, wholesale invent', *Powell due... 9.30am*, EIA Pet'

T - Weekly jobs, pending home sales

F - Pers' income/spending, PCE, consumer sent'

*As Friday is end month/Q2/H1, I would expect more dynamic price action on higher vol'.   

*As July 3rd is a half day, and July 4th is CLOSED, I'd expect the preceding Friday to be subdued on light vol', as many walk away early.

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Have a good weekend... if you deserve it.
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*the next post on this page will likely appear 4.20pm EST on Monday.

Cooling into the weekend

US equity indexes closed broadly lower, SPX -33pts (0.8%) at 4348. Nasdaq comp' -1.0%. Dow -0.6%. The Transports settled -0.7%. R2K -1.6%.

SPX - daily

VIX - daily

Summary

US equities opened on a weak note, with the SPX cooling to 4343. From there, a choppy recovery to 4366, a secondary wave lower to 4341, and settling at 4348. Volatility remained subdued, the VIX printing an opening high of 13.77, but cooling back to settle +4.1% to 13.44.
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21c/70f... Goldilocks.

One sun dog and a G-type star.

 

Next full moon... July 3rd

–

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

Goodnight from London
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Thursday chop

US equity indexes closed moderately mixed, SPX +16pts (0.4%) at 4381. Nasdaq comp' +0.9%. Dow -0.01%. The Transports settled +0.4%. R2K -0.8%

SPX - daily

VIX - daily

Summary

US equities opened a little weak, but all the bears could manage was 4351. From there... considerable positive leaning chop into the late afternoon, settling moderately higher at 4381.

Volatility was subdued, the VIX breaking a new multi-year low of 12.73, and settling -2.2% to 12.91.
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–

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

Goodnight from London
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Midweek weakness

US equity indexes mostly closed on a weak note, SPX -23pts (0.5%) at 4365. Nasdaq comp' -1.2%. Dow -0.3%. The Transports settled +0.02%. R2K -0.2%.

SPX - daily

VIX - daily

Summary

US equities opened on a weak note, with the SPX cooling to 4360. From there, a bounce to 4386, if cooling back to settle at 4365. Despite negative equities, the VIX printed a new multi-year low of 13.10, and settling -4.9% to 13.20.
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8.37pm BST... summer solstice

 

Venus... and the Crescent moon

 

Next full moon is July 3rd

–

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

Goodnight from London
--

 
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Weakness ahead of Powell

US equity indexes closed on a weak note, SPX -20pts (0.5%) at 4388. Nasdaq comp' -0.2%. Dow -0.7%. The Transports settled -0.4%. R2K -0.4%.

SPX - daily

VIX - daily

Summary

US equities opened on a weak note, the SPX cooling to 4367. From there... a latter day recovery, if still settling a little weak at 4388.

Volatility picked up, the VIX printing 14.57, if cooling back to settle +2.5% to 13.88.
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–
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 +3.9% (Trans), +3.2% (Nasdaq comp'), +2.6% (SPX), +1.9% (NYSE comp'), +1.2% (Dow), to +0.5% (R2K).

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

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

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

The Transports lead the way higher, whilst the R2K lagged.

–

Looking ahead

It will be a short four day trading week, with Monday CLOSED for 'Juneteenth'. The schedule is light, with the likely focus of the week being Powell.

Earnings:

M - *CLOSED*

T - FDX

W - WGO, KBH

T - ACN, DRI

F - KMX

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Econ-data/events

M - *CLOSED*

T - housing starts

W - Powell, 10am, US House

T -  Powell, 10am, US Senate, weekly jobs, intl' trade, existing home sales, leading indicators, EIA Pet' & NG reports.

F - PMI serv', PMI manu'

-

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Enjoy the long weekend... if you deserve it.
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*the next post on this page will likely appear 4.20pm EST on Tuesday June 20th.