Moderate chop

US equity indexes closed moderately weak, sp -1pt @ 2269. The two leaders - Trans/R2K, settled lower by -0.7% and -1.2% respectively. VIX settled -1.5% @ 11.67. Near term outlook offers another minor wave lower to at least 2257. More broadly, Dow 20k and sp'2280s remain due.


sp'daily5

VIX'daily3

Summary

It was a day of moderate weakness for the broader market, with the sp'500 settling a mere 1pt lower.

Despite equity weakness, the VIX still couldn't manage a gain, settling lower for a third consecutive gain. We have a market that is supremely confident that 'everything is just fine... at least in the near term'.
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*I'm still open to taking end 2017 targets for the sp'500, along with any other outlooks. Email.. or post via Disqus.

Goodnight from London