The long weekend

US equity indexes closed a little higher, sp +3pts at 2351. The two leaders - Trans/R2K, settled higher by 0.2% and 0.1% respectively. VIX settled -2.3% at 11.49. Near term outlook offers renewed upside across next week and into early March, with a viable upside target of the 2375/400 zone.


sp'daily5

VIX'daily3

Summary

It was a day of minor chop... but that was natural, as it was opex.. ahead of a three day weekend. Most notable.. the Nasdaq comp', which managed a new historic high into the close.

Volatility remains subdued, and it was almost surprising that VIX did not settle the week in the 10s.

Goodnight from London
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The weekend post will appear Sat' 12pm EST, and will detail the US weekly indexes.