US equity indexes closed broadly higher, sp +21pts @ 2066. The two leaders - Trans/R2K, settled -0.2% and +1.2% respectively. Near term outlook still offers the 2020/15 zone, and that should equate to VIX 18s. More broadly, the market still looks to have another marginally lower high of 2075.
... so much for 'leaning weak into the close'.
Another annoying micro wave to make a new intraday high.
Price structure is offering a bear flag for the sp'500, whilst there is (arguably) a bullish pennant for the VIX.
Equity bears will need to see <sp'2055 - with VIX >14.75, to give initial indication the market is resuming lower.
Clearly an annoying day, but it could be worse, we could be >sp'2081... or >Dow 17977. The latter would be a critical problem.
For now.... I remain patient.
more later.. on the VIX