sp'daily5
VIX'daily3
Summary
US equities opened in minor chop mode, and then battled upward, as the buyers appeared. The market climbed into early afternoon, seeing a high of 2764, and then first sign of a cooling wave, that should be seen Monday/Tuesday.
Volatility was naturally in melt mode, with the VIX settling the week in the mid 13s. The s/t outlook for Mon/Tuesday offers cooling to around sp'2740, before resuming higher into the first big earnings,. due July 13th. The sp'2800s look very probable before end month, with new historic highs in the 2900s by late August.
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Goodnight from London
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