After a decent bounce in the US overnight (amid the Fed announcing that they will begin to purchase corporate bonds), Asian and European equities didn’t have another choice other than to follow (also boosted by Trump talking about a $1 trillion infrastructure package). Asia closed up (SZCOMP made a 3m high) and Europe has been trading well up since the open. The V2X slipped -9% this morning and although it is still above its 200d average, it is encouraging to see it trading below both its 50d and 100d averages. While volumes remain low vs the last 5 and 20 days, important levels to keep an eye on include resistance at 10,000 on the Nasdaq and EuroStoxx 50’s resistance at 3383.
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