sp'daily5
VIX'daily3
Summary
It was a rather bullish day, with a trio of new historic index highs for the sp, dow, and nasdaq comp'
VIX is naturally subdued, and a weekly close in the 9s is now viable.
Goodnight from London
Friday, 10 February 2017
Another set of new historic highs
US equity indexes closed broadly higher, sp +13pts at 2307. The two
leaders - Trans/R2K, settled higher by 0.9% and 1.4% respectively. VIX settled -5.0% at 10.88. Near
term outlook offers a weekly close in the 2305/15 zone, with the 2340/50
zone viable in early March.
sp'daily5
VIX'daily3
Summary
It was a rather bullish day, with a trio of new historic index highs for the sp, dow, and nasdaq comp'
VIX is naturally subdued, and a weekly close in the 9s is now viable.
Goodnight from London
sp'daily5
VIX'daily3
Summary
It was a rather bullish day, with a trio of new historic index highs for the sp, dow, and nasdaq comp'
VIX is naturally subdued, and a weekly close in the 9s is now viable.
Goodnight from London
Thursday, 9 February 2017
Still broadly strong
US equity indexes closed moderately mixed, sp +1pt at 2294. The two
leaders - Trans/R2K, settled +0.3% and -0.2% respectively. VIX settled +1.4% @ 11.45. Near term
outlook offers a weekly close in the sp'2300s, as underlying price
pressure remains outright bullish.
sp'daily5
VIX'daily3
Summary
Another rather subdued day of moderate weak chop. As has been the case since late October, all the equity bears are able to manage is weak chop.
VIX remains naturally subdued, as a weekly close in the 10s.. or even the 9s is on the menu.
--
Copper, monthly
Anyone doubt that copper won't be testing the $3 threshold by late spring?
Goodnight from London
sp'daily5
VIX'daily3
Summary
Another rather subdued day of moderate weak chop. As has been the case since late October, all the equity bears are able to manage is weak chop.
VIX remains naturally subdued, as a weekly close in the 10s.. or even the 9s is on the menu.
--
Copper, monthly
Anyone doubt that copper won't be testing the $3 threshold by late spring?
Goodnight from London
Wednesday, 8 February 2017
Bear flag for bonds
US equity indexes closed moderarely mixed, sp +0.5pts at 2293. The two
leaders - Trans/R2K, settled lower by -0.2% and -0.4% respectively. VIX settled -0.7% at 11.29. Near
term outlook offers a daily close in the sp'2300s before the weekend, with the 2320/30s viable next week, especially if oil resumes upward to
the 53/54s.
sp'daily5
VIX'daily3
Summary
There is little to add on what was a day of minor chop. How its notable that the market still managed to break new historic highs for the Dow and Nasdaq comp'.
VIX remains naturally subdued as the US capital market is extremely confident.
--
Update on US bonds: via TLT, monthly'2
Last November saw a decisive break of rising trend that stretches back to at least early 2014.. if not a decade, depending on how you draw it. Price structure since the Dec' low of $116.24 is a rather clear bear flag. The lower bollinger is offering the $110s by early summer.
Nothing has changed since I first stated at the start of the year. I anticipate three rate hikes this year - May, Sept', and Dec'. If correct, TLT will be rather close to $100 by year end, and that has implications for all sorts of things.
Goodnight from London
sp'daily5
VIX'daily3
Summary
There is little to add on what was a day of minor chop. How its notable that the market still managed to break new historic highs for the Dow and Nasdaq comp'.
VIX remains naturally subdued as the US capital market is extremely confident.
--
Update on US bonds: via TLT, monthly'2
Last November saw a decisive break of rising trend that stretches back to at least early 2014.. if not a decade, depending on how you draw it. Price structure since the Dec' low of $116.24 is a rather clear bear flag. The lower bollinger is offering the $110s by early summer.
Nothing has changed since I first stated at the start of the year. I anticipate three rate hikes this year - May, Sept', and Dec'. If correct, TLT will be rather close to $100 by year end, and that has implications for all sorts of things.
Goodnight from London
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