Another day of new highs

US equity indexes closed moderately higher, sp +17pts at 2713. The two leaders - Trans/R2K, both settled higher by around 0.1%. VIX settled -4.1% at 9.15. Near term outlook is a little mixed, but broadly, even the mainstream recognise 3K is coming this year.


sp'daily5

VIX'daily3

Summary

US equities opened fractionally higher, and built moderate gains into the afternoon. There were new historic highs in the sp'500, dow, nasdaq comp', nyse comp', and the trans. Only the R2K is lagging, but that is very close to recent highs.

With equities remaining strong, the VIX was ground lower, falling into the upper 8s, but settling in the 9s.The key 20 threshold looks out of range for some months. Keep in mind, 2017 didn't see the VIX print >20. Perhaps 2018 will be similar in that aspect.
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Another day closer to summer.

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Goodnight from London
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