Chop into the weekend

US equity indexes closed on a positive note, sp +2pts (0.1%) at 2706. Nasdaq comp' -0.2%. Dow +0.3%. The two leaders - Trans/R2K, settled +0.6% and +0.2% respectively. Near term outlook offers the 200dma of sp'2741.


sp'daily5

VIX'daily3

Summary

The new month began on a choppy note, although the spx did break a new cycle/bounce high of 2716.66. The afternoon saw further chop, increasingly leaning on the weaker side, with a nano ramp in the closing few minutes.

Volatility broke a new cycle low, settling in the low 16s. S/t outlook offers the 200dma in the sp'2740s, which will very likely equate to VIX 15s.
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Goodnight from London
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