sp'daily5
VIX'daily3
Summary
It was another day for the equity bulls, with new historic highs in the Nasdaq comp' and sp'500. Some cooling to 2393/90 zone looks due, before choppy upside into this Friday's opex.
Market volatility remains very subdued, with the VIX firmly stuck sub-teens. Does anyone seriously think we'll see the VIX >20 this summer? There is simply no threat of it, other than via something 'nuclear' in Asia.
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Reading around
I read around far less than I used to. As you might realise, I'm writing a great deal, and I just don't have the free time that I used to. I do however make a point of periodically browsing most of the sites/blogs I have listed on this very page.
I am still seeing a lack of capitulation. There are some notable names whom the market has yet to break. A number of infamous sites/blogs need to disappear before Mr Market is arguably satisfied. I could name names... but you can probably guess the ones I am thinking of.
Yours truly will remain bullish until the mid term trends in both the US - and most other world markets, have been broken and closed under. That looks at least 3-4 months away, if not spring 2018.
Goodnight from London
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