US equity indexes closed a little mixed, sp +0.8pts at 2904. Nasdaq comp' -3pts to 8010. The two leaders - Trans/R2K, settled +0.9% and +0.4% respectively. VIX settled -2.4% at 12.07. Near term outlook offers a minor retrace to around 2888, before resuming to new historic highs in the 2920/30s.
It was mostly just another day of minor chop in equity land, as we're still seeing the market rather twitchy to sporadic trade chatter... not least from Trump.
It is the case though that the reactive down waves are usually only moderate and brief.
Equity bears should keep in mind that a US/Canada trade agreement announcement, is viable at ANY time, and it would likely pull the main market to around sp'2940/50s before end month. A US/China agreement is clearly far more important. Many do appear to recognise the market could see an end year pop of 10%, and that would get us real close to my original year target of 3245.
Extra charts in AH (usually around 7pm EDT) @
Goodnight from London
*the weekend post will appear Sat'12pm EDT.
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