Still broadly strong

US equity indexes closed moderately mixed, sp +1pt at 2294. The two leaders - Trans/R2K, settled +0.3% and -0.2% respectively. VIX settled +1.4% @ 11.45. Near term outlook offers a weekly close in the sp'2300s, as underlying price pressure remains outright bullish.


sp'daily5

VIX'daily3

Summary

Another rather subdued day of moderate weak chop. As has been the case since late October, all the equity bears are able to manage is weak chop.

VIX remains naturally subdued, as a weekly close in the 10s.. or even the 9s is on the menu.
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Copper, monthly

Anyone doubt that copper won't be testing the $3 threshold by late spring?

Goodnight from London