Closing Brief

US equities closed moderately lower, sp -0.8pts @ 1877. The two leaders - Trans/R2K, both settled lower by around  -0.2%. Near term outlook is for the market to slowly battle toward the sp'1900s by the time of the next FOMC.


sp'60min

Summary

A pretty quiet start to the week, and I really don't have much to add.
--

VIX looks set to remain low for another week - into VIX opex/FOMC day of March'19. From there, I would be looking for a key turn. Whether it is a grand intermediate top...that won't likely be known until late April at the earliest.
-

more later...on the VIX