US equity indexes closed broadly weak, sp -16pts (0.6%) at 2802. Nasdaq comp' -1.4% at 7630. The two leaders - Trans/R2K, settled -0.2% and -0.6% respectively. Near term outlook offers minimum technical target of sp'2768 (with VIX 15/16s), before resuming broadly upward.
Equities opened in minor chop mode, and with a clear absence of more than a few willing bulls, the market resumed lower. There were a couple of mini ramp attempts, but the day closed on a broadly weak note. Tech was notably weak, having broken rising trend that stretches back to April.
Volatility continued to climb, with the VIX settling +9.4% at 14.26. S/t outlook offers the sp'2760s, which should equate to VIX 15/16s. The key 20 threshold looks out of range.
Bonus chart: Australia, monthly
With just one trading day left of July, the Australian equity market is set for a fourth consecutive net monthly gain. Its a subtle bullish sign for other world markets, esp' Brazil and Russia.
Extra charts in AH (usually around 7pm EDT) @
Goodnight from London
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