US equity indexes closed broadly higher, sp +19pts at 2767. The two leaders - Trans/R2K, settled very significantly higher by 2.3% and 1.7% respectively. VIX settled +0.6% at 9.88. Near term outlook offers a little weakness, but nothing below the 2730s. More broadly, first big target zone is 2950/3047, as even the mainstream are starting to recognise.
US equities opened moderately higher, and clawed upward into the afternoon. All six of the main indexes I regularly highlight broke new historic highs.VIX was naturally subdued, and stuck within the 9s.
There is threat of a moderate wave lower, but that is within a market that has extremely powerful underlying upward pressure. There are an ever increasing number of unfilled gaps, and even last Friday's 2731/23 gap now looks almost out of range.
Mainstream 3047 chatter
My day began with the usual browse of what the mainstream are saying, and I was not disappointed.
Must-watch Video: https://www.cnbc.com/video/2018/01/11/relentless-rally-mixed-with-low-volatility-is-a-recipe-for-problems-drw-trading-strategist.html
Lou Brien is the first (that I'm aware of) to make it on the mainstream financial networks who has dared to mention the next giant fibonacci extrapolation of sp'3047. It was very pleasing to see indeed!
For more chatter on that issue, see my 'outlook for 2018': http://permabeardoomster.blogspot.co.uk/2018/01/weekend-update-outlook-for-2018.html
Extra charts in AH (usually around 7pm EST) @
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