US equities opened a little higher, and leaned upward into the mid afternoon. There was a touch of cooling in the closing hour, as the month wrapped up. Volatility was naturally subdued, with the VIX falling into the 9s, but managing a close in the low 10s. Near term outlook offers equity weakness, but a daily VIX close >12.50 looks very difficult.
Nine of ten
The sp'500 settled higher for a seventh consecutive month, +55pts (2.2%), but perhaps most notable, the ninth monthly gain of the past ten.
The monthly RSI is now at an incredibly high 81, which exceeds even levels from 2013/14. There is absolutely zero sign of the US equity market maxing out.
Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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