Trump has named Jerome Powell as his nomination for new Fed chair. Powell also happened to be Goldman’s pick for the job. I’m sure that was just a coincidence. Anyhoo, on we go with the U.S. yield curve seeing new ten year flats on the news. Powell was the safest bet for the markets, but the mood was cautious optimism.
Smart money coming back in off the sidelines. November is seasonally very strong and we could see gains in stocks into December.
VXX daily is back to support.
SVXY daily is testing the resistance but the MACD is crossed down.
SKEW daily has come way back down which means that the options market is not seeing any high implied volatility for now.