Remaining broadly subdued

US equity indexes closed fractionally higher, sp +4pts at 2480. The two leaders - Trans/R2K, both settled +0.1%. VIX settled -1.0% at 9.93. Near term outlook still offers a brief washout to sp'2435, before a better chance of pushing into the 2500s.


spdaily5

VIX'daily3

Summary

US equities began the week as they concluded last Friday... in nano chop mode. Price action has been very subdued for a few weeks now. A break >2484 looks less likely than a brief 1-2 day washout to the prime target of sp'2435.

Market volatility remains naturally subdued, with the VIX continuing to regularly trade in the 9s. 

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

Goodnight from London
--