Thursday chop

US equity indexes closed moderately mixed, sp -2pts (0.1%) at 2720. The two leaders - Trans/R2K, settled +0.4% and +0.5% respectively. VIX settled +0.1% at 13.43. Near term outlook still offers weakness to the sp'2670s, before swinging strongly back upward, with a grander run to the 2800s.


sp'daily5

VIX'daily3

Summary

US equities opened a little weak, seeing an early low of 2713. From there, a push upward to 2731, fully filling the Tues' gap of 2718/30. The afternoon saw a moderate swing lower, breaking a new intraday low of 2711, before choppy upside to settle -2pts at 2720.

Volatility saw minor swings, settling fractionally higher in the mid 13s. If we do see a secondary wave lower to the sp'2670s, then a brief VIX spike to the 16/17s is probable.
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Goodnight from London
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