US equity indexes closed a little weak, sp -2pts at 2436. The two leaders - Trans/R2K, settled lower by -0.2% and -0.6% respectively. VIX settled +3.3% at 10.07. Near term outlook offers choppy downside to the 2410s. The 2400 threshold should hold into next week's FOMC, when rates are set to be raised.
The week began on a somewhat subdued note, leaning on the weaker side, with a trading range of a tiny 5pts.
Volatility itself remains subdued, with the VIX opening in the 10s, cooling into the 9s, and settling in the low 10s. The 11s seem due this week, 12s on a stretch.
In the trenches
I have often used military analogies to being a trader in this twisted casino. Yours truly resides in the metropolis of London, a capital that is under threat. Its not exactly a new situation of course, the IRA (significantly funded by Americans) would periodically blow up parts of the city. The recent names and faces are different, but the outcomes are much the same.
Its a long list... and its only going to get longer.
This scene came to mind this weekend...
... and its absolutely more 'true' lately.
yours... sleepless in London