US equities ended the week on a moderately positive note, sp +8pts @ 2091. The two leaders - Trans/R2K, both settled higher by 0.6%. Near term outlook remains unchanged, with renewed weakness, ideally to the sp'2040s, with Dow 17000, and that should equate to VIX in the 17s.
... and another week comes to close.
First, I realise some will be moderately spooked at today's net daily gains, but really... I can't take it seriously. Across all indexes since May, its been a series of lower highs.. and lower lows... as especially seen on the bigger weekly cycles.
No doubt some will be calling for broader upside into September... good luck with that.
*I hold long-VIX across the weekend, and have little concern, seeking an exit in the 17s next Tue/Wed.
Have a good weekend
*the usual bits and pieces across the evening to wrap up the day.