Weekend update - World equity markets

It was a very mixed month for world equity markets, with net monthly changes ranging from +6.9% (India), +6.5% (South Africa), +3.1% (Russia), +2.8% (Japan), +1.3% (Brazil), +1.1% (USA), +0.5% (Australia), -1.4% (Germany), -2.4% (Argentina), to -3.9% (China).

Lets take our regular look at ten of the world equity markets.

USA - Dow

Germany – DAX

Japan – Nikkei

Brazil – Bovespa

Russia - RTSI

India – SENSEX

China – Shanghai comp'

South Africa – Dow

Argentina - MerVal

Australia – AORD

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Summary

Seven world equity markets were net higher for June, with three net lower.

India and South Africa lead the way up, whilst China was powerfully lower.

India and Argentina broke new historic highs.

Nine markets are trading above their respective monthly 10MA, the exception is Brazil.

Nine markets have positive monthly momentum, the exception is China.

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Looking ahead

It will be a short 3.5 day trading week with the market CLOSED for Independence Day.

Earnings:

M -

T - $MSM $RDUS $SLP

W - $STZ  *EARLY CLOSING, 1pm*

T - *CLOSED*

F -

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Econ-data/events:

M - PMI/ISM manu', construction

T - Vehicle sales, JOLTS, Powell speech... from Portugal.

W - ADP jobs, weekly jobs, intl' trade, PMI/ISM serv', factory orders, *EARLY CLOSING, 1pm*, FOMC mins (2pm)

T - *CLOSED*

F - Monthly jobs

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

June/Q2/H1 settle

US equity indexes closed rather mixed, SPX -22pts (0.4%) at 5460. Nasdaq comp' -0.7%. Dow -0.1%. The Transports settled +1.0%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities settled on a weak note, but that was after new hist' highs of SPX 5523 and Nasdaq comp' 18035. Volatility was a little mixed, the VIX printing 12.06, but seeing a mini spike to 12.76, and settling +1.6% to 12.44. 
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Extra charts in AH (usually around 5pm EDT) @ https://x.com/Trading_Sunset

Goodnight from London
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Yet. More. Chop.

US equity indexes closed a little mixed, SPX +5pts (0.1%) at 5482. Nasdaq comp' +0.3%. Dow +0.1%. The Transports settled -0.5%. R2K +1.0%

SPX - daily

VIX - daily

Summary

It was yet another day of considerable minor chop, the SPX settling +0.1% to 5482.

Volatility was ground lower for a third day, the VIX settling -2.5% to 12.24.
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Our local star remains very active

Another fine summers day

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

Goodnight from London
--

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Midweek chop

US equity indexes mostly closed on a positive note, SPX +8pts (0.2%) at 5477. Nasdaq comp' +0.5%. Dow +0.04%. The Transports settled +1.5%. R2K -0.2%

SPX - daily

VIX - daily

Summary

US equities opened a little choppy, if leaning on the weaker side. The SPX cooled to 5451, if recovering to settle +0.2% to 5477. Volatility was ground lower for a second day, the VIX settling -2.3% to 12.55.
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Trees filled with parakeets

Bullish Golden sunsets

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

Goodnight from London
--

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The chop continues

US equity indexes closed rather mixed, SPX +21pts (0.4%) at 5469. Nasdaq comp' +1.3%. Dow -0.8%. The Transports settled -0.8%. R2K -0.3%

SPX - daily

VIX - daily

Summary

It was another day of considerable minor chop.

Volatility was ground lower, the VIX settling -3.7% to 12.84.
-

The sun remains distinctly active

 

Bullish trees

FDX1, descending into earnings.

A fine summers day

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

Goodnight from London
--

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Monday chop

US equity indexes closed rather mixed, SPX -16pts (0.3%) at 5447. Nasdaq comp' -1.1%. Dow +0.7%. The Transports settled +0.8%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities saw a day of minor chop, as the market appears content to churn all the way into early July.

Volatility remained subdued, the VIX printing 13.86, but cooling back to settle +1.0% to 13.33.
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–
Extra charts in AH (usually around 5pm EDT) @ https://x.com/Trading_Sunset

Goodnight from London
--

Summer subscription offers, see: https://www.tradingsunset.com

Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly changes ranging from +2.1% (Trans), +1.4% (Dow), +1.0% (NYSE comp'), +0.8% (R2K), +0.6% (SPX), to u/c (Nasdaq comp').

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

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

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Summary

Five US equity indexes were net higher for the week, with one index u/c.

The Transports lead the way up, whilst the Nasdaq comp' settled u/c

The SPX and Nasdaq comp' broke new hist' highs.

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Looking ahead

Earnings:

M - $EPAC $XAIR

T - $CCL $SNX $AISP $FDX $PRGS

W - $PAYX $GIS $UNF $MU $BB $LEVI $CNXC $AVAV $FUL $JEF $MLKN $CULP $FC

T - $WBA $MKC $AYI $SMPL $APOG $LNN $NKE $ACCD $AOUT $PNST

F -

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Econ-data/events

M -

T - Consumer conf'

W - New home sales, EIA Pet'.

T - Weekly jobs, GDP Q2 (print'2), durable goods orders, pending home sales

*Trump - Biden debate, CNN, 9pm EDT
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F - Pers' income/outlays, PCE, consumer sent'

As Friday is end month/Q2/H1, I'd expect considerable chop on very high vol'.
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Final note

A short week, but it was certainly a net bullish one, with a pair of index historic highs. There has been a little renewed top calling, not least after rather powerful downside in the AI-related semicons - such as NVDA, SMCI, and MU, across Thurs-Friday.

As a collective though, the US equity market is unquestionably still m/t bullish, along with a fair number of other world markets. 

The US economy is slowing, as some argue Q2 is at least borderline recessionary. Regardless... the mainstream cheerleaders and related 'smart guys' have no significant concerns. In fact, many of them have been upgrading their year end targets. After all, #everythingisfine ... right? 

The real concern should be geo-political, with multiple escalating problems. Relations between the west and Russia continue to worsen. The tinderbox that is the middle east has to be expected to see renewed 'events', which should especially concern oil/energy traders. 

The very near term will see elections in the UK and France, both of which look set to see their leaders given the boot. The sad irony is that both replacements (Starmer and Le Pen respectively), will probably be even worse than Sunak and Macron. 

Then there is the issue of Trump, with sentencing due July 11th. That shall be no minor matter, not least if the judge decides to send him straight to jail... whilst on appeal. Ohh, and next Thursday will see Trump and Biden face off in a CNN debate. How much of a train wreck will that be? 

Regular listeners to my X Spaces will know how I see this political freak show playing out. A wild summer is ahead, but I'd imagine the Fall will be even worse. Just be sure to have enough popcorn and drinks for the big show.

Summer subscription offers, see: https://www.tradingsunset.com

Have a good weekend
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*the next post on this page will likely appear 4.20pm EDT on Monday.

Quad-Opex chop

US equity indexes closed a little mixed, SPX -8pts (0.1%) at 5464. Nasdaq comp' -0.2%. Dow +0.04%. The Transports settled +0.2%. R2K +0.2%

SPX - daily

VIX - daily

Summary

US equities saw a day of considerable chop, the SPX settling a touch lower at 5464.

Volatility was naturally subdued into the weekend, the VIX settling -0.6% to 13.20. 
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A fine summer's day

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

Goodnight from London
--

 

Summer subscription offers, see: https://www.tradingsunset.com