A break lower

US equity indexes closed fractionally mixed, sp +0.8pts at 2562. The two leaders - Trans/R2K, settled lower by -0.1% and -0.2% respectively. VIX setttled -0.2% at 10.05. Near term outlook offers soft target of 2540/37, that would be negated on any new historic high >2564.11.


sp'daily5

VIX'daily3

Summary

US equities opened moderately lower, with an early floor of sp'2547. There was a choppy recovery that took the market fractionally higher into the close. Its notable that 4 of the 6 main indexes did settle fractionally lower.

Market volatility remains broadly subdued, with the VIX seeing a cash market high of 11.10 (pre-market high was 11.77), but then cooling all the way back to around the 10.00 threshold.

To be clear, unless we break a new historic high >sp'2564.11, we have a valid s/t high, with initial soft target of 2540/37. More broadly, primary target is the Sept'11th gap zone of 2474/61.
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Another quartet of highs

US equity indexes closed moderately mixed, sp +1.9pts at 2561. The two leaders - Trans/R2K, settled higher by 0.8% and 0.5% respectively. VIX settled -2.3% at 10.07. Near term outlook offers a sig' break lower, with first soft target of 2540/37. Its time for the equity bears to make an appearance.


sp'daily5

VIX'daily3

Summary

US equities opened fractionally higher, and it was enough to generate yet another quartet of new historic highs in the sp', dow, nasdaq comp', and nyse comp'. Price action was a little twitchy though, especially within some of the tech stocks.

Market volatility remains very subdued, with the VIX briefly falling into the 9s today, but settling in the 10s.

Near term outlook offers a long overdue cooling wave. First soft target is sp'2540/37, which should equate to VIX 12s. Even then, that is not something the equity bears should get excited about right? 
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Here in the metropolis...

A misty autumnal evening

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Just another threshold

US equity indexes closed moderately mixed, sp +1pt at 2559. The two leaders - Trans/R2K, both settled lower by -0.3%. VIX settled +4.0% at 10.31. Near term outlook offers an overdue sig' break lower, with primary target of sp'2474/61. More broadly, the 2600s remain a given.


sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, but with the Dow soon breaking above the soft psy' threshold of 23k. The mainstream does seem to be increasing focused on each 1000pts higher. This afternoon on CNBC the cheerleaders were tentatively daring to mention 'at the current rate... 25k within six months. There is still no talk of 'hyper bullish', or the notion that this could continue for some years .

Its notable that whilst the Dow and sp'500 broke new highs (if fractional) the two leaders - Trans/R2K, did settle moderately weak. It could be argued they are offering an early warning of trouble. We shall see.

Market volatility remains broadly subdued, although the VIX did manage a close outside of the 9s.
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