Saturday, 7 January 2017

Another week for the bulls

US equity indexes closed moderately mixed, sp +7pts @ 2276 (new historic high 2282). The two leaders - Trans/R2K, settled +0.6% and -0.3% respectively. VIX settled -3.0% @ 11.32. Near term outlook offers a little weakness, but broadly... the market remains super strong.




The week concluded with a pair of new historic highs.. with sp'2282 and Nasdaq comp'5536. On any basis... such new highs remain the ultimate bullish signal.

VIX cooled for a fourth consecutive day, as Mr Market remains very comfortable, and rather confident of the year ahead. For now, the key 20 threshold looks as out of range as it has since the Trump victory.

Goodnight from London

*The weekend post will appear Sat' @ 12pm.