sp'daily5
VIX'daily3
Summary
It was another day of micro chop for the sp'500, if leaning a little weak into the close for a second day. Volatility remained broadly subdued, breaking a new multi-month low of 10.17. The s/t cyclical equity setup does favour the bulls into the weekend.
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Bonus chart: Nasdaq comp' monthly, 20yr
The Nasdaq comp' settled higher for an eighth consecutive day, and is higher for a fifth consecutive month. The 8000s are clearly viable within the immediate term. Just consider this: 8000 is 60% above old resistance of psy'5K. I'd agree the 9000s look a stretch before year end.
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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