Friday 3 November 2017

New highs into the weekend

US equity indexes closed moderately mixed, sp +8pts at 2587. The two leaders - Trans/R2K, settled lower by -0.2% and -0.1% respectively. VIX settled -8.0% at 9.14. Near term outlook offers basic cooling to sp'2560. Broadly though, the US market is super strong, supported by earnings and econ-data.




US equities opened in minor chop mode, but then slipped into algo-bot upward melt, which resulted in a trio of marginal new historic highs in the Dow, Nasdaq comp', and sp'500.

With new equity highs, the VIX was ground lower, briefly flash printing 8.99, before a micro bounce in the 15 minutes of AH action, settling in the low 9s. Barring some seriously scary geo-political event, the key 20 threshold looks out of range for the remainder of the year. Its notable that the VIX has not had a year without seeing a print >20.00 since 2005.

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

Goodnight from London
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The weekend post will appear Sat'12pm EST, and will detail the World monthly indexes.