Monday 9 October 2017

Cyclically tired

US equity indexes closed a little weak, sp -4pts at 2544. The two leaders - Trans/R2K, settled lower by -0.2% and -0.4% respectively. VIX settled +7.0% at 10.33. Near term outlook offers the basic 'technical necessity' of sp'2474/61, whilst the end year target of 2683 remains on track.




US equities opened in micro chop mode, and that was how it remained across the day. The Dow and Nasdaq comp' did break fractional new historic highs. Market volatility remains very subdued, although the VIX did finally manage to break and hold the 10.00 threshold for the first time since Sept'26th.

Cyclically, daily price momentum is in the early phase of swinging back toward the equity bears, although at the current rate, nothing of significance can be expected for at least another 2-3 days.

Things are set liven up by this Thursday, when the first of the financials start to report.

Not exactly the best of sunsets

Extra charts in AH (usually around 7pm EST) @

Goodnight from London
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