sp'daily5
VIX'daily3
Summary
With the monthly jobs data coming in 'goldilocks' (at least to the mainstream), equities opened moderately higher, and with no spooky news, the market clawed upward into the mid afternoon. The intra high was 2736, notably 6pts shy of what is a double top of 2742. Until that is cleared, the equity bulls should be concerned of another wave lower to around 2671. Some indexes - such as the Nasdaq comp' and R2K, would argue the sp' breaks upward.
Volatility was naturally in cooling mode. The VIX flash printed 13.56 in pre-market, but even that was taken out in cash-market hours (intra low 13.37), settling at 13.46.
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For the week...
A net weekly gain of 13pts (0.5%), with a spike low from 2676. Note the upper bollinger, offering the 2840s. The original big target 'concrete wall' zone of 2950/3047 really isn't that much of a stretch, given another 3-5mths.
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Goodnight from London
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