Daily Wrap

US equities saw moderate weakness across the day, sp -10pts @ 2080. Yet the broader trend remains bullish into the new year. The bigger weekly/monthly cycles are already offering the sp'2130s, and with the R2K having broken out... there is nothing in the near term for the bears to look forward to.


sp'daily5

R2K

Summary

Little to add, on what was a mere minor down cycle, in a holiday shortened week.
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VIX continues to claw higher

VIX'daily3

Despite the second consecutive daily gain, VIX still looks set to decline to the 12/11s in the current multi-week equity up wave (from sp'1972).
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Closing update from Riley


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a little more later...