Two trading days left

US equity indexes closed fractionally mixed, sp +2pts at 2682. The two leaders - Trans/R2K, settled +0.2% and u/c respectively. VIX settled +2.1% at 10.47. Near term outlook offers minor chop across the remaining two trading days of 2017. The original settlement target of sp'2683 is set to be mighty close.


sp'daily5

VIX'daily3

Summary

US equities saw another day of fractional chop. It was notable that the NYSE comp' broke a new historic high of 12834, making it a day for the bulls. VIX clawed higher for a third consecutive day, settling in the mid 10s. At most, a sporadic burst to the 11/12s is due, but is far more likely next week.
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Meanwhile...

The US equity record highs have become part of almost every Trump speech/comment. If he takes credit for the  gains, what will happen when the market does (eventually) see a retrace of 5, 10, or 'ohh the humanity' 15/20% ?

For those that regularly watched the campaign rallies across 2015/16, they should be well aware of how Trump is contemptful against the shortside traders. Do not be surprised if he comes to blame them for any 'drama' in 2018.
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Another cold day in London city

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Goodnight from London
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