Just another tedious day

US equities closed moderately mixed, sp +0.5pts @ 2164. The two leaders - Trans/R2K, both settled higher by 0.1%. VIX settled -3.4% @ 12.42. Near term outlook still offers the sp'2130s - along with VIX 15s. The next support zone around the sp'2100 threshold looks well out of range.


sp'daily5

VIX'daily3

Summary

There is very little to note.

Price action remains broadly subdued - as reflected in a VIX that usually can't even hold the low teens.

A retrace to the sp'2130s - with VIX 15s, remains a clear threat. I see a fair few people talk about price action as low as the 2110/2090 zone - where there are a number of aspects of support, but really, how are we going to fall that far?

It remains the case that underlying price action is more bullish with each day.

Or maybe... just maybe, you'd like to buy a UK 10yr bond, which is offering a yield of around 0.65%.

Goodnight from the land of 0.25% rates.