Monday 20 March 2017

Subdued price action

US equity indexes closed moderately weak, sp -4pts at 2373. The two leaders - Trans/R2K, both settled -0.5%. VIX settled +0.5% at 11.34. Near term outlook offers another lurch upward... as the 2425/50 zone seems a given into April earnings.


sp'daily5



VIX'daily3



Summary

The week began on a pretty subdued note (don't I say that every week?), with the market seeing an afternoon swing from sp'2369 to 2376. The drama!

VIX remains naturally subdued.. still entirely unable to reach the 13s - last seen Jan'19th. Its notable we sure are seeing a great many black-fail daily candles, as any equity downside is usually reversed later in the day.
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Goodnight from London
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