Bad news is good news

US equity indexes closed on a positive note, SPX +20pts (0.3%) at 6849. Nasdaq comp' +0.2%. Dow +0.9%. The Transports settled +2.0%. R2K +1.9%

SPX - daily

VIX - daily

Summary

The day began in pre-market with the latest ADP jobs data...
ADP jobs: -32K vs 47K (prior rev’ from 42K)

On any basis... lousy, but in this market, bad news is often seen as good news, as it means there is higher probability of a rate cut and/or QE.

Equities opened a little weak, but all the bears could manage was 6810, before battling upward to 6862, and settling at 6849. 

Volatility was ground lower, the VIX settling -3.1% to 16.08   

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The tedium continues

US equity indexes mostly closed on a positive note, SPX +16pts (0.25%) at 6829. Nasdaq comp' +0.6%. Dow +0.4%. The Transports settled +0.6%. R2K -0.2%

SPX - daily

VIX - daily

Summary

Equities opened a little higher, saw considerable chop, settling marginally positive at 6829. 

Volatility was ground lower, the VIX settling -3.8% to 16.59.    

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Full moon will be Dec'4th

 

        Its a sign

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Weak leaning tedium

US equity indexes mostly closed on a weak note, SPX -36pts (0.5%) at 6812. Nasdaq comp' -0.4%. Dow -0.9%. The Transports settled +0.02%. R2K -1.3%

SPX - daily

VIX - daily

Summary

US equities opened broadly lower, but all the bears could manage was 6799, a bounce to 6843, and settling moderately lower at 6812.

Volatility picked up (if mostly for technical reasons), the VIX printing an opening high of 17.92, cooling to 16.58, and settling +5.4% to 17.24. 

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