Equity bears remain powerless

US equity indexes closed moderately mixed, sp -2pts at 2362. The two leaders - Trans/R2K, settled lower by -0.9% and -0.5% respectively. VIX settled +1.5% at 11.74. Near term outlook offers little to the equity bears, as the sp'2400s and Dow 21000s look due in early March.


sp'daily5

VIX'daily3

Summary

It was a pretty dull day in the market. The open was a little weak, but as has been the case for almost four months, the equity bears can't muster anything significant. The Dow did break another new historic high... settling fractionally higher for a ninth consecutive day.. equalling the run from last July.

VIX naturally remains very subdued in the sub-teens. Another foray to single digit VIX seems probable.

Goodnight from London