A tedious day

US equity indexes closed moderately mixed, sp -1pt at 2464. The two leaders - Trans/R2K, settled +0.2% and -0.8% respectively. VIX settled -2.3% at 12.04. Near term outlook offers minimum target of sp'2454, and more broadly.. a tag of 2435, but with a notably divergent lower VIX high (<16.66).


sp'daily5

VIX'daily3

Summary

US equities opened a little higher, there was a clear opening reversal, but neither were the equity bears able to manage anything of even a moderate degree. The day soon became one of tedious minor chop.

Market volatility opened in the 11s, saw a brief spike to fractionally positive, but then cooled back into the 11s. If sp'2435 - as remains technically due, the VIX should see the 15s again, and that would make for a notably divergent lower high - relative to last Friday (VIX 16.66), when sp'2437.
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