Friday 25 January 2019

Settling the week positive

US equity indexes closed broadly higher, sp +22pts (0.8%) at 2664. The two leaders - Trans/R2K, settled +0.7% and +1.3% respectively. Near term outlook still offers a swing lower into end month.




US equities opened moderately higher, and built gains into the early afternoon. The spx saw a high of 2672, just 3pts below last Friday's high. S/t price structure does make for a marginal double top.

Volatility was ground lower into the weekend, with the VIX settling in the mid 17s. S/t outlook for the remaining four days of January offers an equity swing lower, if only to test/challenge this week's low of sp'2612.

Mr Market is arguably flying on vapour fumes

Next week will likely have less sunshine, rainbows, and unicorns
Extra charts in AH (usually around 7pm EST) @

Goodnight from London
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