US equity indexes closed the week on a slightly positive note, sp +2pts @ 2263. The two leaders - Trans/R2K, settled higher by 0.3% and 0.6% respectively. VIX settled +0.1% @ 11.44. Near term outlook offers renewed weakness to test the low of sp'2248, if not the 2243/31 zone.
It was naturally an exceptionally subdued day in equity land, ahead of the three day Christmas break.
Its notable that the equity underlying MACD (blue bar histogram) cycle continues to tick lower, and that increased downward pressure should present itself in lower prices, when the market re-opens next Tuesday.
VIX remains broadly subdued. At best.. if sp'2240/30s, that might equate to VIX 13s. Even the 14s look a stretch before end year. The key 20 threshold looks out of range for at least a month.
Goodnight from London
*the weekend post will appear Sat' 12pm EST, and will fully detail the US weekly indexes