Thursday 27 April 2017

April soon to wrap

US equity indexes closed moderately mixed, sp -1pt at 2387. The two leaders - Trans/R2K, settled -0.9% and +0.6% respectively. VIX settled +0.8% at 10.85. Near term outlook offers continued upward grind, as the equity bears are being systematically short-stopped with new historic highs.




It was a pretty choppy day, arguably as the market was mostly just consolidating the past two days of gains. It was notable that the Nasdaq comp' (6040) and the R2K (1425) both broke new historic highs.

Volatility remains extremely subdued, as the US equity market is set to end the month on a positive note. The key VIX 20 threshold looks out of range until at least Sept. 

April set to wrap


With two trading days left of the month, all US equity indexes are set for at least moderate net monthly gains.

Most notable, the 10MA - currently at 2246. At next Monday's open it will be in the 2270s, and as of June 1st... around the 2300 threshold.

Equity bears have NOTHING to tout unless a break AND monthly settlement under the 10MA. I recognise some of you like the 13MA.. or something similar. In the scheme of things, it makes little difference. For now, the mid term bullish trend remains comfortably intact.

As ever, for some extra charts in AH, see:

Goodnight from London