Monday 6 November 2017

Starting fractionally bullish

US equity indexes closed fractionally mixed, sp +3pts at 2591. The two leaders - Trans/R2K, settled -0.2% and +0.2% respectively. VIX settled +2.8% at 9.40. Near term outlook offers sp'2560, but more broadly, the year end target of 2683 has now come within 90pts (3.5%) of being hit.




US equities opened in minor chop mode, but soon leaned back upward, with new hist' highs in the sp', dow, and the Nasdaq comp'. On any basis... it was just another bullish day. Its pretty incredible - even to me, that my year end target has now come within 90pts (3.5%) of being hit, and we've still around 8 trading weeks left of the year.

Volatility stayed positive across the day, but whether VIX 8s, 9s, or 10s... its all noise at these lowly levels. Any price action >12.50 looks out of range for some time, unless a sporadic 'spooky news' story.

Bullish November skies.

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

Goodnight from London
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