The Zigmont Report (Daily Market Recap for 5/22/18)

Mike Zigmont

Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $10B AUM, offering volatility management solutions to its investor base worldwide.  Mike has been publishing his daily newsletter (Monday-Friday) privately for the firm’s investors and his personal contacts in the investment business since 2008, sending it daily shortly after the market close.

The opinions expressed below are my own

Trivial.  The S&P gave up a little bit today.  It was around 10 points higher in the morning but slid slowly over the day.  The slip accelerated in the final hour but it wasn’t too quick and it looks like intraday momentum-chasing.  Additionally, the treasury curve barely changed.  The Dollar barely changed.  Capital flow was 81%.

Nothing to see here.

The bulk of today’s news concerned the differing information concerning the China/US trade talks as well as the US/North Korean summit.  For Politicos and DC insiders, this is probably exciting stuff.  For the capital markets, it was ignored.

I get the feeling that the markets are not interested in each and every soundbite anymore.  Instead the attitude is call me when something major happens.

I agree.

So we move on to tomorrow, see you then,