Chop into the weekend

US equities closed moderately mixed, sp -5pts at 2362. The two leaders - Trans/R2K, settled -0.4% and +0.2% respectively. VIX settled +7.2% at 12.37. Near term outlook offers a test of resistance at sp'2380/90 early next week. April is offering 'relatively easy' upside to the 2425/50 zone.


sp'daily5

VIX'daily3

Summary

The week/month/quarter ended with (naturally) a fair amount of minor chop. The sp'500 saw a trading range of just 8pts. There is big resistance around 2380/90, but with a very secure low of 2322.

Market volatility climbed into the weekend, but we're still only talking about a VIX in the 12s. It is notable that unlike February, March did see (if briefly) the 14s.

.. and thus concludes March.
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Something I noticed this evening...

Whomever did the above advert for 'Nutmeg' (a UK financial promoting retail equity investments) was a clear fan of the talking bears that were a thing a few years ago.

'Capital at risk'.   Indeed.

Goodnight from London
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*the weekend post will appear Sat'12pm EST, and will detail the World monthly indexes. It remains my most important post of the month.

March set to wrap

US equity indexes closed moderately higher, sp +6pts at 2368. The two leaders - Trans/R2K, both settled higher by 0.8%. VIX settled +1.0% at 11.54. Near term outlook offers moderate chop into the monthly/Q1 close. Broader upside to the 2425/50 zone looks a given by late April/early May.


sp'daily5

VIX'daily3

Summary

It was another day for the equity bulls, as despite opening much like Wednesday (minor chop mode), the market managed to break above soft resistance of sp'2363, and successfully held moderate gains across the afternoon.

Market volatility remains naturally very subdued, as the VIX is set to settle the month sub-teens. It is notable that unlike February, we did see VIX in the teens this month.. if only briefly.

For some extra charts in AH, see https://twitter.com/permabear_uk

Goodnight from London
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Naturally choppy

US equity indexes closed moderately mixed, sp +2pts at 2361. The two leaders - Trans/R2K, settled -0.2% and +0.3% respectively. VIX settled -0.9% at 11.42. Near term outlook offers threat of Thursday moderate weakness, before a swing upward into the monthly/Q1 close.


sp'daily5

VIX'daily3

Summary

It was a day of minor chop for US equities. This was natural, as the smaller 60/15min cycles were on the high side, whilst at the same time, the bigger daily cycle, is seeing price momentum swing back to the equity bulls. The remainder of the week/month can be expected to be mostly 'more of the same'.

Market volatility remains very subdued, with the VIX settling net lower for a third consecutive day. It was particularly notable in early morning that with sp' -5pts, the VIX had already turned fractionally red! The key 20 threshold looks out of range until at least late April.
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Here in London city...

Moody skies as the sun sets on the UK being part of the EU. In many ways though, I don't expect that much to change, as the political/societal elite never wanted to leave anyway. For some though, the removal of the right to live and work in other parts of Europe will be a truly great loss.

Goodnight from London
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