31 May 2016

SP 500 and NDX Futures Daily Chart - Late Day Face Save

This market is looking very toppy and pricey.  Not a very good combination for solid investment.

The futures were negative most of the day, but were amenable with their light volumes to a late afternoon rally back on what looked like algorithmic buying.

On any serious event, the underpinnings of the US equity market is as resilient as sponge cake.  Or what Taleb has called of a fragile composition.

Have a pleasant evening.