Daily Index Cycle update

US equities saw a day of minor chop, sp +5pts @ 2057 (intra low 2040). The two leaders - Trans/R2K, settled higher by 0.6% and 1.0% respectively. Outlook remains broadly bullish, into the sp'2100s.


sp'daily5

R2K

Summary

Little to add, on what was a relatively quiet day.
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Notable gains in the R2K, which looks set for the 1215/20 zone by Thur/Friday.
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Closing update from Riley


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a little more later...

Volatility resumes lower

Whilst equities saw minor chop across the day, the VIX was in melt mode, settling lower by -6.8% @ 15.52. Near term outlook is for the sp'2090/2110 zone, which will likely equate to VIX 14/13s, if not even a little lower (briefly).


VIX'daily3

Summary

*the fifth daily decline of the last six trading days.
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Little to add.

VIX looks to set to see another wave lower after the FOMC announcement this Wed' afternoon.
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more later... on the indexes

Closing Brief

US equities saw a day of minor chop, sp +5pts @ 2057 (intra low 2040). The two leaders - Trans/R2K, settled higher by 0.6% and 1.0% respectively. Outlook remains broadly bullish, into the sp'2100s.


sp'60min

Summary

*awaiting earnings: MSFT, TXN, UTX
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Little to add, on what was essentially a holding pattern day... ahead of what will likely be a quiet snow-day Tuesday.
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Considering the Greek election result..the capital markets traded very comfortably today. There is almost nothing for the bears to look forward to this week.

The sp'2090/2110 zone looks a valid target.. although more likely next week.
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more later... on the VIX