Tuesday 10 January 2017

Minor chop to start the week

US equity indexes closed moderately mixed, sp -8pts @ 2268. The two leaders - Trans/R2K, settled lower by -0.9% and -0.7% respectively. VIX settled +2.1% @ 11.56. Near term outlook offers renewed strength to Dow 20k.. with sp'2300s.




It was a pretty subdued start to the week, with most indexes leaning on the moderately weaker side.

However, its notable that the equity bull maniacs still managed to break a new historic high in at least one index - the Nasdaq comp'. By definition, regardless of the rest of the week... its already another week for the equity bulls.

VIX remains broadly subdued - as it can for many weeks, even months at a time. Sure, a brief spike to the mid teens is always a threat on any sporadic 'spooky news', but the key 20 threshold looks out of range for another month.

*I'm still open to taking any end 2017 targets for the sp'500. Email/message me, if you want your outlook to be added.

Goodnight from London