Failed rally

US equity indexes closed on a somewhat mixed note, sp -4pts (0.1%) at 2722. The two leaders - Trans/R2K, settled +0.6% and -0.2% respectively. VIX settled -2.1% at 20.02. Near term outlook offers a test of key gap support in the sp'2680s.


sp'daily5

VIX'daily3

Summary

US equities began the day on a moderately positive note, and clawed upward to 2754... but that was all the bulls could manage. Notably, 2754 was 7pts shy of the 200dma. Today's candle is spiky... and indicative of a failed rally. The afternoon saw the spx turn moderately lower... lead by the Dow.

Volatility saw minor swings, with a low of 19.11, and settling around the key 20 threshold. S/t outlook leans to the equity bulls. Thursday will be rather important.
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Goodnight from London
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