Quad opex historic highs

US equity indexes closed broadly higher, sp +23pts at 2675. The two leaders - Trans/R2K, settled higher by 0.6% and 1.5% respectively. VIX settled -10.2% at 9.42. Near term outlook offers basic cooling to 2660/52, with secondary of 2646/36. Today's intraday high of 2679.63 was just 3.37pts shy of the original year end target of 2683.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and it was enough to quickly generate a new historic high for the sp'500. The Dow and Nasdaq comp' followed in the afternoon. The new historic high of 2679.63 is a mere 3.37pts from my original year end target of 2683. Many now recognise a continued push to around 3K is probable in 2018.

With broadly higher equities, and good earnings from COST, ADBE, and ORCL, the capital market was in an especially confident mood ahead of the weekend, with the VIX cooling by a very significant -10.2% to the 9.42. A little burst to the 11/12s remains viable early next week.
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Another fine winter's day in London

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