sp'daily5
VIX'daily3
Summary
The market opened a little higher, but once again, the gains didn't last more than a few minutes. There was sustained (if moderate) weakness across the day, with a late afternoon low of 2233. The closing hour was naturally pretty choppy.
VIX closed notably higher for a sixth consecutive day.
The most bearish case for next week would be further weakness to around the sp'2200 threshold, which would equate to VIX in the 15.50/17.00 zone. The key 20 threshold still looks out of range for at least a month.
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As for the outlook for 2017...
The outlook for 2017 is shrouded in cloud, but isn't it always?
Goodnight from an icy and foggy London
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*the weekend post will appear Sat' 12pm EST, and will detail the world monthly indexes. Frankly, its my most important post of the month.... and year.