Wednesday, 1 February 2017

A stark contrast to January 2016

US equity indexes closed moderately mixed, sp -2pts @ 2278. The two leaders - Trans/R2K, settled -1.5% and +0.7% respectively. VIX settled +0.9% @ 11.99. Near term outlook offers upside into the sp'2300s. The broader outlook remains powerfully bullish, as the US and most other world markets settled significantly net higher for January.




US equities saw a second day of moderate weakness, but there was a distinct latter day recovery... much like yesterday.

Notably, the VIX still fell shy (if only by 0.01pts) of the low teens. If equities push back into the 2300s - as seems due, VIX 10s look due once more.

January 2017 was a stark contrast to January 2016.


Whilst Jan'2016 saw a net monthly decline of -103pts (5.1%) to 1940, this month saw a net monthly gain of 40pts (1.8%), settling at 2278, having recently seen a new historic high of 2300.

As ever.. one month does not maketh a year, but its an unquestionably strong start for the equity bull maniacs.

Goodnight from London