Friday, 21 July 2017

Opex weakness

US equities closed moderately weak, sp -0.9pts at 2472. The two leaders - Trans/R2K, settled lower by -0.1% and -0.5% respectively. VIX settled -2.3% at 9.36. Near term outlook offers further weakness to at least partly fill the gap zone of sp'2435/25. Mid term outlook remains 'scary strong', as earnings are coming in reasonable.




US equities opened a little weak, and saw chop across the day, but that was somewhat natural for what was option expiration. We have two entirely open gaps of 2463/60 and 2435/25. Some cooling to at least 2435 seems very probable by next Wednesday.

Market volatility remains very low, with the VIX settling lower for a third consecutive day.

Today's closing hour intra low of 9.30 is (I believe) the lowest EVER VIX.

The daily/weekly close of 9.36 is the LOWEST ever daily/weekly close. 

Sunshine before another storm

Goodnight from London

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