sp'daily5
VIX'daily3
Summary
US equities opened a little higher, breaking a new multi-month high of 2779. From there though, price action leaned weak into mid afternoon with a low of 2760. A late day mini ramp saw a settlement at 2770, the first daily decline in a week. Notably, the R2K and Nasdaq comp' broke another set of historic highs, giving further confidence for the summer ahead.
Volatility saw a mixed day, from a cash market low of 11.70, to an afternoon high of 13.28. With a late day equity recovery, the VIX cooled, but did manage a minor gain, settling in the low 12s. The 14/15s look a given, although we could see a little beyond that, depending on the style of price action between 2770 and 2718.
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Goodnight from London
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