US equity indexes closed moderately mixed, sp +3pts @ 2173 (new historic high 2177). The two leaders - Trans/R2K, settled -0.2% and +0.2% respectively. VIX settled -6.7% @ 11.87. Near term outlook offers the 2200s in August, with further upward grind into mid/late September.
So... the equity bulls even managed a fractional new historic high in the sp' to finish off the month. The US market is unquestionably bullish.. and the outlook is indeed positive for August, and past the Labour day holiday of Sept 5th.
VIX is naturally very subdued, regularly unable to even hold the low teens. With 'Jackson hole' in late August, the VIX will probably get stuck in the mid teens. The key 20 threshold looks out of range until late September.
A fifth month for the equity bulls...
A net July gain of 74pts (3.6%), having broken a new historic high of 2177, and that ain't bearish, is it?
Goodnight from London
*The weekend post will appear Sat' 12pm EST, and will detail the world monthly indexes