Friday, 22 May 2015

3pm update - net weekly gains

Most US equity indexes are set for a third consecutive net weekly gain.. if somewhat moderate, with the sp +0.3%, having broken a new historic high of 2134. The notable exception is the Transports, -2.2% in the 8400s. Relative to the strong USD, equities are performing better than most realise.




*the VIX is at levels last seen Dec 5th' 2014. Right now, the most realistic 'best case' for the VIX bulls would be the 15s, but even that looks difficult in the reminder of May.

Despite all the rumbling bearish chatter... it has been another week for the equity bulls.. not least with new historic highs in the Dow/sp'500.

Sure, the two leaders - Trans/R2K are showing distinct weakness... but as a collective, the market is comfortably holding within the broader upward trends.

back at the close.