Falling into the weekend

US equity indexes closed broadly weak, sp -25pts (0.9%) at 2781. Nasdaq comp' -1.6% at 7406.  The two leaders - Trans/R2K, settled -1.3% and -1.8% respectively. VIX settled +3.8% at 17.36. Near term outlook offers further weakness to the 2700/2680 zone, before resuming upward into Thanksgiving week.


sp'daily5

VIX'daily3

Summary

US equities opened moderately weak, with the bears breaking s/t rising trend (from the sp'2603 low) by mid morning. From there, prices spiraled to 2764, before a latter day rally to 2790, and settling at 2781.

Volatility picked up, with the VIX seeing a high of 18.41, and settling in the mid 17s. S/t outlook offers at least the sp'2730s, if not the 2700/2680 zone, the latter of which would equate to VIX 22/23s.

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Goodnight from London
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