Weak Wednesday bounce

US equity indexes closed broadly positive, sp +4pts (0.2%) at 2767. The two leaders - Trans/R2K, settled +0.1% and +0.8% respectively. VIX settled -4.2% at 12.79. Near term outlook offers technical necessity of sp'2718, which should equate to VIX 15/16s.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and clawed upward to an early afternoon high of 2774. Late afternoon saw a s/t cyclical rollover, with slight cooling. Its notable that the Nasdaq comp' and R2K broke new historic highs, and are a reminder of underlying m/t super strength in the US equity market.

Volatility was naturally subdued, with the VIX melting lower, and settling in the mid 12s.
-

Bonus chart: China

The Chinese equity market also saw a weak Wednesday bounce, +0.3% to 2915. The price action so far this year is outright ugly.

--
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk

Goodnight from London
--
If you value my work, subscribe to me.
For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html