Saturday, 27 May 2017

The long weekend

US equities closed fractionally mixed, sp' +0.7pts at 2415. The two leaders - Trans/R2K, settled +0.1% and -0.1% respectively. VIX settled -1.8% at 9.81. Near term outlook offers a gap fill of 2409/04. More broadly, the sp'2500s are a valid target by late September.




US equities opened weak, and then saw micro chop across the day. The Friday fractional gain made for a seventh consecutive gain, equalling the February run.

This morning's revised Q1 GDP print of 1.2% was again notably still weak, but then neither is it remotely recessionary. Its just a case of the US economy 'ticking along'.

Market volatility remained very subdued, with the VIX settling the week in the 9s.

Podcast from Coffey and Najarian


Day'3 of summer 2017 :)

For extra charts (usually after 7pm EST each day), see

Goodnight from London

*the weekend post will appear Sat' 12pm EST, and will detail the US weekly indexes