Broadly strong

US equity indexes closed a little mixed, sp -3pts at 2783. The two leaders - Trans/R2K, settled -0.3% and +0.2% respectively. VIX settled +7.8% at 15.78. Near term outlook offers a little weakness to the sp'2752/38 zone, before resuming back upward into the 2800s. More broadly, 2950/3047 is right on track by early summer.


sp'daily5

VIX'daily3

Summary

US equities opened a little higher, and built gains to 2796, before slipping into micro chop mode for the rest of day. Most notable was the Nasdaq comp', saw impressive bullish follow through after the Friday new high, breaking a new historic high of 7609,

Volatility picked up, but remains at broadly subdued levels in the mid teens. At most, if sp'2752/38, then VIX 18/19s. Any sustained move above the key 20 threshold looks out of range for some considerable time.

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Goodnight from London
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