Saturday, 28 January 2017

A subdued end to the week

US equities ended the week on a slightly weak note, sp -2pts @ 2294. The two leaders - Trans/R2K, both settled lower by around -0.3%. VIX settled -0.5% @ 10.58. Near term outlook offers further upside to at least the sp'2320/30s by mid Feb'.




Despite a great many corp' earnings, and a box of key econ-data, equity price action was subdued across the day. Short term price structure is offering a baby bull flag, with upside to 2305/10 next Mon/Tuesday.

Naturally, the VIX was itself subdued, with an intra low of 10.30, the lowest level since summer 2014.

Goodnight from London

*the weekend post will appear Sat'12pm EST, and will fully detail the US weekly indexes.