sp'daily5
VIX'daily3
Summary
US equities opened moderately higher, and built gains across the morning. The sp' saw some considerable chop under resistance of 2674/72. There was a fractional breakout in the closing hour, but then leaning on the weaker side, cooling by around 10pts to 2663.99.
With equity strength, volatility cooled for a third consecutive day, settling in the mid 18s.
Friday is set to see superb earnings from some of the financials. However, the market does remain very twitchy, and cyclically, we will be inclined for weakness into the weekend. The simmering 'Syrian situation' will likely see some of the more cautious bulls close out ahead of the weekend.
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Goodnight from London
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