Weekend update - World equity markets

It was a very mixed month for world equity markets, with net monthly changes ranging from +15.9% (Argentina), +6.3% (Brazil), +2.1% (Germany), +1.8% (USA), +1.5% (South Africa), +0.8% (India), -0.04% (Australia), -1.2% (Japan), -3.3% (China), to -10.0% (Russia).

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

USA - Dow

Germany – DAX

Japan – Nikkei

Brazil – Bovespa

Russia - MOEX

India – SENSEX

China – Shanghai comp'

South Africa – Dow

Argentina - MerVal

Australia – AORD

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Summary

Six world equity markets were net higher for August, with four net lower.

Argentina lead the way up, whilst Russia was very powerfully lower.

New historic highs: USA, Germany, Brazil, India, South Africa, Argentina, Australia

Eight markets have positive monthly momentum, and are trading above their respective monthly 10MA. The two exceptions being Russia and China.

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Looking ahead

It will be a short four day trading week, with Monday CLOSED for Labor day.

Earnings:

M - *CLOSED*

T - $MOMO $ZS $GTLB $ASAN $HQY $SPWH $OS $PD

W - $DKS $DLTR $HRL $CIEN $CNM $CRMT $CURV $JILL $KNOP $DAKT $AI $HPE $CHPT $CASY $CRDO $CXM $CPRT $AVAV $VRNT $BBCP

T - $NIO $FCEL $TTC $SAIC $LE $GILL $KFY $MEI $MOV $SCVL $AVGO $PATH $IOT $DOCU $PL $BRZE $NX $ZUMZ $SMAR $TLYS

F - $BIG $ABM $BRC $GCO $DODO

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Econ-data/events:

M - *CLOSED*

T - PMI/ISM manu', construction

W - Intl' trade, JOLTS, factory orders, Fed beige book (2pm)

T - ADP jobs, Weekly jobs, productivity, PMI/ISM serv'

F - Monthly jobs,

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Final note 

Considering the seven historic highs, it should be seen as a net bullish month for world equities. 

September through October will typically favour the equity bears, not least ahead of an election. I'd accept, the latter is an issue solely for the USA. In any case... we'll likely need a fair amount of popcorn and drinks into November 5th.  

 
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Enjoy the holiday weekend
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*the next post on this page will likely appear 4.20pm EDT on Tuesday, September 3rd.

Into the long weekend

US equity indexes closed significantly higher, SPX +56pts (1.0%) at 5648. Nasdaq comp' +1.1%. Dow +0.5%. The Transports settled +1.1%. R2K +0.6%

SPX - daily

VIX - daily

Summary

Equities opened on a positive note, the SPX pushing to 5632. There was a rather significant cooling wave to 5581. The late afternoon saw a mini ramp to 5651, and settling sig' higher at 5648.

Volatility was a little mixed, the VIX printing an early afternoon high of 16.04, cooling back to 14.78, and settling -4.1% to 15.00.

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A fine day... in late summer

          Bullish oxygen producers

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

Goodnight from London
--

 

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Latter day cooling

US equity indexes closed rather mixed, SPX -0.2pts (0.00%) at 5591. Nasdaq comp' -0.2%. Dow +0.6%. The Transports settled +0.01%. R2K +0.7%

SPX - daily

VIX - daily

Summary

Equities opened a little higher, and whilst the opening gains were shaky (the Trans/R2K briefly turning red), there was a secondary push upward to 5646. The afternoon saw a significant cooling wave to print 5583, and settling almost precisely flat at 5591.

Volatility was mixed, the VIX printing a low of 15.19, spiking to 16.34, and settling -8.5% to 15.65.
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19c/66f is fine

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

Goodnight from London
--

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Midweek weakness

US equity indexes mostly closed on a weak note, SPX -33pts (0.6%) at 5592. Nasdaq comp' -1.1%. Dow -0.4%. The Transports settled +0.2%. R2K -0.7% 

SPX - daily

VIX - daily

Summary

US equities opened effectively flat, but the market did lean increasingly weak into the mid afternoon. The SPX printing 5560, if recovering to settle moderately lower at 5592.

Volatility picked up, the VIX printing 17.89, if cooling back to settle +10.9% to 17.11.

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

Goodnight from London
--

 

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Tedious Tuesday

US equity indexes closed somewhat mixed, SPX +8pts (0.2%) at 5625. Nasdaq comp' +0.2%. Dow +0.02%. The Transports settled -0.5%. R2K -0.8% 

SPX - daily

VIX - daily

Summary

US equities opened a little weak, but the declines (at least for the SPX) barely rated as moderate. The SPX recovered from 5593 to settle a little higher at 5625. Broadly though... it was another day of tedious price action.

Volatility was ground lower, the VIX settling -4.5% to 15.43.
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#everythingisfine

20c/68f is Goldilocks

–

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

Goodnight from London
--

 

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A subdued Monday

US equity indexes closed a little mixed, SPX -17pts (0.3%) at 5616. Nasdaq comp' -0.8%. Dow +0.2%. The Transports settled -0.3%. R2K +0.02%

SPX - daily

VIX - daily

Summary

US equities saw an opening high of 5651, if swinging lower to settled a little lower at 5616. Volatility was subdued, the VIX printing 16.67, if cooling back to settle +1.8% to 16.15.
-

Summer is inexorably fading away

–
Extra charts in AH (usually around 5pm EDT) @ https://x.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 +3.7% (R2K), +1.9% (Trans), +1.8% (NYSE comp'), +1.4% (SPX, Nasdaq comp'), to +1.3% (Dow).

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

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

The R2K was powerfully higher, whilst the Dow lagged.

The NYSE comp' broke a new hist' high.

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Looking ahead

Earnings:

M - $PDD $TCOM $HEI $AMWD $BHP

T - $BNS $ALLT $BMO $S $PVH $BOX $NCNO $AMBA $JWN $SMTC $OOM $YY

W - $ANF $CHWY $KSS $FL $BBWI $SJM $NVDA $CRM $VSCO $CRWD $AFRM $OKTA $PSTG $VEEV $FIVE $HPQ $NTAP

T - $BBY $DG $AEO $OLLI $CPB $BURL $BIRK $DELL $LULU $ULTA $MRVL $GAP $ADSK $MDB $DDD $AMRK $ESTC

F - $FRO $JKS $MNSO

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Econ-data/events

M - Durable goods orders

T - Case-Shiller HPI, consumer conf'

W - EIA Pet'

T - Weekly jobs, GDP Q2 (print'2), intl' trade, pending home sales,

F - Pers' income/outlays, PCE, Chicago PMI, consumer sent'

*As Friday is end month, I'd expect more dynamic price on higher vol'. However, it will also be the lead into the Labor day holiday weekend, which would be inclined for subdued price action on low vol'. 

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Final note

With next week being the lead into the Labor day holiday, I wouldn't expect too much. At best... the equity bears could seek sp'5500 with VIX 20s. 

From Sept'3rd onward, price action should be increasingly dynamic, and leaning lower. Seasonally, Sept-Oct' will favour the bears. The fact we have an election, is only to going to add to the uncertainty. If there is anything the market doesn't like... its uncertainty.

Considerable popcorn and drinks will be merited all the way into Nov'5th. Beyond there... the market will be inclined for upside, if only on the relief that the election is 'out of the way'. 

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

Powell inspired gains

US equity indexes closed significantly higher, SPX +63pts (1.1%) at 5634. Nasdaq comp' +1.5%. Dow +1.1%. The Transports settled +1.6%. R2K +3.2%

SPX - daily

VIX - daily

Summary

US equities opened moderately higher. The Powell duly appeared at 10am...

The CEO of Print Central

US equities saw a burst higher with the release of the speech, the SPX printing 5641. However, once Powell finished, the market cooled to 5595. There were a few other swings, if settling sig' higher to 5634.

Volatility was mixed, the VIX printing an early low of 15.96, spiking to 17.12, but cooling back to settling -9.6% to 15.86.

–
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Goodnight from London
--

 

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A red Thursday

US equity indexes closed broadly lower, SPX -50pts (0.9%) at 5570. Nasdaq comp' -1.7%. Dow -0.4%. The Transports settled -0.7%. R2K -0.9%

SPX - daily

VIX - daily

Summary

US equities opened a little higher, with the SPX printing a new cycle high of 5643. The gains were shaky from the start though, with cooling to 5563. The afternoon saw repeated bounce attempts, but all failing to break a new low of 5560, and settling at 5570.

Volatility was rather mixed, the VIX printing an early low of 15.90, but spiking upward to 18.06, and settling +7.9% to 17.55.

–
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 closed on a positive note, SPX +23pts (0.4%) at 5620. Nasdaq comp' +0.6%. Dow +0.1%. The Transports settled +1.0%. R2K +1.3%

SPX - daily

VIX - daily

Summary

US equities opened a little choppy. There was an early high of 5632, cooling to 5591, and settling at 5620.

Volatility picked up a little more, the VIX printing 17.17, if cooling back to settle +2.5% to 16.27.

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

Goodnight from London
--

 

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A mixed Tuesday

US equity indexes closed on a weak note, SPX -11pts (0.2%) at 5597. Nasdaq comp' -0.3%. Dow -0.15%. The Transports settled -0.9%. R2K -1.1%

SPX - daily

VIX - daily

Summary

US equities opened in micro chop mode, but did lean upward, the SPX printing a new cycle high of 5620. From there... some moderate cooling to 5590, and settling at 5597. Volatility picked up, the VIX printing 15.93, and settling +8.4% to 15.88.
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The most active cycle in 20 years

More X class flares are due

 

21c/70f is Goldilocks

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

Goodnight from London
--

 

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