A stark contrast to January 2016

US equity indexes closed moderately mixed, sp -2pts @ 2278. The two leaders - Trans/R2K, settled -1.5% and +0.7% respectively. VIX settled +0.9% @ 11.99. Near term outlook offers upside into the sp'2300s. The broader outlook remains powerfully bullish, as the US and most other world markets settled significantly net higher for January.


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VIX'daily3

Summary

US equities saw a second day of moderate weakness, but there was a distinct latter day recovery... much like yesterday.

Notably, the VIX still fell shy (if only by 0.01pts) of the low teens. If equities push back into the 2300s - as seems due, VIX 10s look due once more.
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January 2017 was a stark contrast to January 2016.

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Whilst Jan'2016 saw a net monthly decline of -103pts (5.1%) to 1940, this month saw a net monthly gain of 40pts (1.8%), settling at 2278, having recently seen a new historic high of 2300.

As ever.. one month does not maketh a year, but its an unquestionably strong start for the equity bull maniacs.

Goodnight from London
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