US equity indexes closed moderately higher, sp +8pts at 2316. The two leaders - Trans/R2K, both settled higher by 0.7%. VIX settled -0.3% @ 10.85. Near term outlook threatens a retrace to 2296/94, before resuming upward to the 2320/30s. The 2340/50s appear viable by first week of March.
Suffice to add, it was another day, and week for the equity bulls, with a quartet of new historic highs in the sp', dow, nyse comp', and nasdaq comp'.
VIX remains naturally subdued, having melted lower into the weekend. The key 20 threshold looks out of range until at least the latter half of March.
The bullish R2K, weekly
Seen on the bigger weekly cycle, there is clear bull flag, and the R2K is provisionally confirming it. Further upside to 1425/50 seems a given within 2-3 weeks. That arguably equates to sp'2340/50 in the first week of March.
Goodnight from London
The weekend post will appear Sat' @ 12pm, and will detail the US monthly indexes