A bounce day

US equity indexes closed moderately higher, sp +3pts at 2560. The two leaders - Trans/R2K, settled higher by 0.9% and 0.3% respectively. VIX settled +0.6% at 11.30. Near term outlook offers renewed downside, with soft target of 2540/37 before the weekend.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and clawed upward into midday, maxing out at sp'2567. There was some minor cooling into the close. Broadly, today could be seen as a bounce day. Despite equities settling higher, the VIX manage to close higher for a fourth consecutive day.

Tomorrow could be real interesting, not least as the market has a wheel barrow of earnings to reflect upon.

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Goodnight from London
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