Monday 7 May 2018

Moderately mixed

 US equity indexes closed moderately mixed, sp +9pts (0.3%) at 2672. The two leaders - Trans/R2K, settled -0.1% and +0.8% respectively. VIX settled -0.1% at 14.75. Near term outlook offers a push to challenge key resistance in the low sp'2700s.




US equities opened moderately higher, and built gains into the mid afternoon. From a high of 2683, the market saw some distinct cooling to 2664, just 1pt shy of fully filling the opening price gap. A push into the low 2700s looks highly probable within the near term. An eventual bullish breakout is on track, but perhaps not in the current up wave from 2594.

Volatility was itself very subdued, churning within the 15/14, and settling lower for a third day.

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

Goodnight from London
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