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.
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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.
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