Opex chop

US equity indexes closed a little mixed, sp -7pts at 2712. The two leaders - Trans/R2K, settled -0.1% and +0.1% respectively. VIX settled -0.1% at 13.42. ear term outlook still threatens a washout to the sp'2670s, before swinging upward to the 2800s in June.


sp'daily5

VIX'daily3

Summary

Equities opened a little weak, and remained in micro chop mode for the day.Volatility was naturally subdued, melting fractionally lower into the close, settling in the mid 13s.

Near term outlook still threatens a mini washout to the sp'2670s, which would arguably equate to VIX 16/17s. Broadly though, the US equity market appears rather strong. The fact the R2K broke another new historic high today certainly gives some support to that view.
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Goodnight from London
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