US equities closed moderately higher, sp +4pts at 2398 (intra high 2400). The two leaders - Trans/R2K, settled higher by 0.5% and 0.3% respectively. VIX settled -1.9% at 10.72. Near term outlook offers a sig' wave lower to the sp'2340s.
A fourth consecutive net daily gain for the sp', having fully filled the gap from last Wednesday. The psy' level of 2400 is a clear resistance threshold. The 50dma is 2370, with the lower bollinger at 2367.. those are the first soft targets within 1-2 days.
Market volatility was ground lower for a fourth day, with the VIX stuck in the 10s. Cyclically, we're due a bearish MACD cross within 1-2 days, but my guess is that instead we'll see a powerful surge in the VIX.. back to the 15/16s.
Another piece of my childhood has gone...
I was always a fan of the bond intro' themes.
After yesterday night's event in Manchester, today's warm sunshine was a welcome relief.
Goodnight from London