Monday, 24 July 2017

Starting weak

US equity indexes closed moderately mixed, sp -2.6pts at 2469. The two leaders - Trans/R2K, settled -0.4% and +0.1% respectively. VIX settled +0.7% at 9.43. Near term outlook offers a brief foray to the sp'2430s. Mid term outlook remains bullish, supported by 'reasonable' earnings, and an economy that is ticking along with 2.0% growth.




US equities opened on a fractionally weak note, and saw minor chop - leaning on the weaker side, across the day. The trading range was a notably tight 6.78pts.

Market volatility remains exceptionally subdued, and its notable that the VIX broke a new HISTORIC low of 9.26 in the closing hour. Pretty incredible, as the 8s are clearly viable at any point.

Best guess remains: near term weakness to sp'2430s - with VIX 11/12s, before resuming upward.

Not exactly the best of summer days

Extra charts in AH @

Goodnight from London