Tuesday, 17 July 2018

Turnaround Tuesday

 US equity indexes closed moderately positive, sp +11pts (0.4%) at 2809. The two leaders - Trans/R2K, settled +0.3% and +0.5% respectively. VIX settled -6.0% at 12.06. Near term outlook offers the sp'2820s, before next opportunity for a swing lower to the 2760s. More broadly, new historic highs in the sp' are clearly coming.




Equities opened moderately weak, but the opening low of 2789 was all the bears could manage. It turned out to be a rather standard 'turnaround Tuesday', with the market breaking a new multi-month high of 2814, a mere 58pts (2.1%) shy of the January historic high.

VIX was naturally very subdued, opening in the low 13s, but settling in the 11s.

Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
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