Closing Brief

It was the second consecutive daily gain for US equities, sp +4pts @ 1892. The two leaders - Trans/R2K, settled higher by 0.5% and 0.9% respectively. Near term outlook is broadly bullish into mid June, at least to the sp'1910/20s, which will likely equate to VIX in the 10s...even 9s.


sp'60min

Summary

There really isn't much to note.

Market opened with minor chop, and with no sell side volume, the market slipped into algo-bot melt - as also reflected in the VIX. No doubt, the fact we have a 3 day weekend ahead, is helping this situation.

Tomorrow, looks to be even quieter, and on balance, that will favour the bulls.

*I remain content to be on the sidelines, will consider a new long position next Tue/Wed, but most certainly, I have zero inclination to attempt any market shorts.

--
more later..on the VIX