Friday 2 March 2018

Swings into the weekend

US equity indexes closed somewhat mixed, sp +13pts at 2691 (intra low 2647). The two leaders - Trans/R2K, settled u/c and +1.7% respectively. VIX settled -12.8% at 19.59. Near term outlook threatens one further wave lower to 2630, with the key Feb' low of 2532 looking comfortably intact.




US equities opened broadly lower, with an early low of sp'2647. There was a significant rally that continued all the way into the late afternoon. The daily gain of 0.5% is arguably inconclusive, as to whether we have a completed washout wave from 2789. I'm guessing... no.

The VIX saw a very mixed day, swinging from the 26s to settle in the 19s.I'm still concerned of one final push to 30/34, before broad cooling across March/April.

A bearish week: sp'weekly

A net weekly decline of -56pts (2.0%), as the weekly MACD cycle increasingly favours the equity bears. For now, the Feb' low of 2532 still looks secure.

Extra charts in AH (usually around 7pm EST) @

Goodnight from London
*the weekend post will appear Sat'12PM, and will detail ten of the world equity markets. It remains my most important post of each month.
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