The very bullish R2K

US equity indexes closed moderately higher, sp +8pts at 2316. The two leaders - Trans/R2K, both settled higher by 0.7%. VIX settled -0.3% @ 10.85. Near term outlook threatens a retrace to 2296/94, before resuming upward to the 2320/30s. The 2340/50s appear viable by first week of March.


sp'daily5

VIX'daily3

Summary

Suffice to add, it was another day, and week for the equity bulls, with a quartet of new historic highs in the sp', dow, nyse comp', and nasdaq comp'.

VIX remains naturally subdued, having melted lower into the weekend. The key 20 threshold looks out of range until at least the latter half of March.
--


The bullish R2K, weekly

Seen on the bigger weekly cycle, there is clear bull flag, and the R2K is provisionally confirming it. Further upside to 1425/50 seems a given within 2-3 weeks. That arguably equates to sp'2340/50 in the first week of March.

Goodnight from London
--

The weekend post will appear Sat' @ 12pm, and will detail the US monthly indexes

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

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