Thursday 16 March 2017

Broadly strong

US equity indexes closed moderately weak, sp -3pts at 2381. The two leaders - Trans/R2K, settled -0.5% and +0.2% respectively. VIX settled -3.6% at 11.21. Near term outlook offers chop into the quad-opex/weekly close. Another push upward into the sp'2400s is due, as broader price action is strong.




It was a pretty subdued in equity land, with most indexes leaning moderately weak. It was notable that the Nasdaq comp' came within a single point of breaking a new historic high.

The VIX continues to reflect powerful underlying equity strength, and melted moderately lower to the low 11s. A weekly settlement in the 10s is easily within range.

Something to stare at... at least for a few minutes..

UK, monthly

We're halfway through March, and the UK FTSE is net higher by a rather significant 2.1%, having broken a new historic high of 7444. Anyone doubt 9/10k as a minimum target before it all ends badly?

Goodnight from London