Climbing into the weekend

US equity indexes ended the week on a positive note, sp +8pts (0.3%) at 2779. The two leaders - Trans/R2K, settled +0.9% and +0.3% respectively. VIX settled +0.4% at 12.18. Near term outlook still offers a basic cooling wave to sp'2718, but more broadly, by late summer, the sp' should have reached big target of 2950/3047.


sp'daily5

VIX'daily3

Summary

US equities opened a little weak, partly just a combination of s/t cyclical cooling, trade-talk concerns ahead of the G7. There was a moderate swing higher that took the sp'500 just shy of the Thurs' morning high.

Volatility saw the low 13s in early morning, but with equities clawing back upward, the VIX melted into the weekend, settling just fractionally higher in the low 12s.
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Bonus chart: Brazil, monthly

The Bovespa settled Friday -1.2%, which makes for a current net June decline of -5.0% at 72942. Due a bearish macd cross... much like summer 2008. Not so bullish.
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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