A sixth weekly gain

US equity indexes closed moderately mixed, sp +1pt at 2383. The two leaders - Trans/R2K, settled +0.5% and -0.1% respectively. VIX settled -7.2% at 10.96. Near/mid outlook remains bullish, although price action is likely to be more choppy, with some sector rotation, with funds especially leaning into energy.


sp'daily5

VIX'daily3

Summary

It was a pretty subdued end to the week, but that is arguably just the market consolidating after another record breaking week.

VIX is naturally subdued, still unable to reach the low teens. Even if the fed raise rates at the FOMC of March 15th, its difficult to see the VIX sustainably >15.

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Economic/market chatter from Schiff



For those with the time, this is worth listening to, especially for the retrospective to 2007.

One particular point of note, the notion of 1oz of Gold equalling the Dow. I could see it happening, but as I don't see the Dow trading under 14000 ever again, you can thus extrapolate I expect somewhat higher gold prices.

Goodnight from London
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*the weekend post will appear Sat'12pm EST, and will detail the World monthly indexes... which remains my most important post of the month.