March set to wrap

US equity indexes closed moderately higher, sp +6pts at 2368. The two leaders - Trans/R2K, both settled higher by 0.8%. VIX settled +1.0% at 11.54. Near term outlook offers moderate chop into the monthly/Q1 close. Broader upside to the 2425/50 zone looks a given by late April/early May.


sp'daily5

VIX'daily3

Summary

It was another day for the equity bulls, as despite opening much like Wednesday (minor chop mode), the market managed to break above soft resistance of sp'2363, and successfully held moderate gains across the afternoon.

Market volatility remains naturally very subdued, as the VIX is set to settle the month sub-teens. It is notable that unlike February, we did see VIX in the teens this month.. if only briefly.

For some extra charts in AH, see https://twitter.com/permabear_uk

Goodnight from London
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