21 October 2016

SP 500 and NDX Futures Daily Charts - GE Outlook On Economy Chills the Markets

The depreciating Yuan and GE's comments on the economic outlook from its perspective put a chill on equities this morning.

However, the bubbleers were not daunted, and managed to shake off the major global risks *again* with the volatility measure VIX continuing to drop.

Equities were back up to pretty much unchanged at the close.

All is well in the Pax Americana.

Deals with companies buying other companies tends to dominate the news, along with new era 'unicorns' that are priced to fantasy. Does this remind you of the near top of the tech bubble back in 2001? It does remind me of that.

Advance 3Q GDP next week might give us a better perspective on things.

But for now we are into the trough of the silly season in this Presidential election, and the news media is spinning some otherworldly visions for its patrons.

At least we have baseball. lol

Have a pleasant evening.