A bounce day

US equity indexes closed broadly higher, sp +21pts at 2440. The two leaders - Trans/R2K, settled higher by 1.4% and 1.5% respectively. VIX settled -9.3% at 10.03. Near term outlook offers another wave lower, at least to partly fill the gap zone of 2428/19. Many stocks - such as AAPL, are still highly suggestive of more significant downside to 2400/2390s.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and built rather strong gains into the early afternoon.

I recognise that some won't be calling today a bounce, and will instead now be seeking a straight run to new historic highs into early July. Its notable that the R2K did come very close to breaking a new historic high today.

With equities on the rise, market volatilty was crushed, with the VIX falling back into the 9s (intra low 9.76), but settling in the 10s.

Extra charts in AH @ https://twitter.com/permabear_uk

Goodnight from London