sp'daily5
VIX'daily3
Summary
It was day of mostly minor chop in equity land, with the sp' trading within 2789/78. However, the R2K and Nasdaq comp' both broke new historic highs, and are a reminder of underlying m/t strength.
Volatility was naturally subdued in the 12/11s, settling -0.1% at 12.34.
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Bonus chart: Germany, monthly
The DAX is currently net higher for June by 1.9% at 12842. Note the divergence in the macd (black line) between spring 2016 and Jan'2018. For now, price momentum does favour the German bears, new historic highs will not be easy. The '5 wave counters' could justifiably call a mid/long term top from the Jan' high of 13596. NIRP from the ECB is certainly not helping, least of all, for the systemic risk to the EU, that is Deutsche Bank.
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Goodnight from London
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