Two Fifteen

Two Fifteen – 22 September 2020

All a bit of a stunned quiet today after yesterday’s brutal sell off. There has been a rally of sorts but very little conviction to it and we continue to be far busier on down days then up days. Big Tech did steady after Europe closed and that does seem to have given some confidence for a Turnaround Tuesday (history shows 15 of the last 18 Mondays that have been down more than 2% have rallied the following day) but in Europe it is lacklustre at best. We’ve had Boris Johnson speaking over lunchtime to give further details on “enhanced measures” to curve the virus whilst trying to prevent a full lockdown but one thing is clear – this will be the last 2.15 I write from the office for a while. Just as I was getting back used to it!

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