Choppy end to the week

US equity indexes closed moderately higher, sp +3pts at 2438. The two leaders - Trans/R2K, both settled higher by around 0.7%. VIX settled -4.4% at 10.02. Near term outlook offers weakness to around sp'2415. More broadly, the 2500s are viable as early as late July.


sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode.. leaning a touch weak. The market hit sp'2431, and then it became apparent that some were already hitting the buy button. There was a moderate swing upward into the afternoon to 2441, before cooling to 2433, and then spiking upward into the re-balancing weekly close.

Volatility remained subdued, and with an anticipated sleepy weekend ahead, the VIX even failed to stay out of the 9s... which was something of a surprise.
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Goodnight from London
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*the weekend post will appear Sat'12pm EST, and will fully detail the US weekly indexes