Monday 14 August 2017

2435 remains a minimum target

US equity indexes closed broadly higher, sp +24pts at 2465. The two leaders - Trans/R2K, settled higher by 1.6% and 1.5% respectively. VIX settled -20.5% at 12.33. Near term outlook offers a retrace to at least sp'2454, but more broadly, prime target of 2435 is yet to be tagged.




US equities began the week on a positive note, with indexes quickly building sig' gains into late morning. Price action was pretty choppy in the afternoon though, with short term price structure of a baby bull flag. At most, the bulls look like they could manage to hit 2474, before another swing lower to at least 2454.

With equities opening higher, the VIX was duly whacked, settling in the 12s. If another swing lower to sp'2435 - as is due, the VIX should see the 15/16s... but a divergent lower high to last Friday's intra high of 16.66.

Ambulance for the London equity bears?
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Goodnight from London

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