Choppy opex weakness

US equity indexes closed rather mixed, sp -6pts at 2578. The two leaders - Trans/R2K, settled -1.1% and +0.4% respectively. VIX settled -2.8% at 11.43. Near term outlook offers a little weakness to around 2572. More broadly, the 2600s are due, whether before or shortly after Thanksgiving, it should make no difference to most.


sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode, and leaned on the weaker side into the late afternoon.

Despite equities leaning weak, the VIX opened lower, and stayed negative across the day. Its arguably a sign of underlying capital market confidence. The key VIX 20 threshold looks out of range for the rest of the year. Near term offers a little equity weakness to begin next week, but not much below sp'2572.
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Goodnight from London
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*the weekend post will appear Sat'12pm EST, and will detail the US weekly indexes
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Naturally rebounding

US equity indexes closed broadly higher, sp +21pts at 2585. The two leaders - Trans/R2K, both settled higher by around 1.6%. VIX settled -10.4% at 11.76. Near term outlook offers a touch of cooling to the mid sp'2570s, but with the 2600s due before end month.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and built broad gains into the afternoon.

It was notable that once again the mainstream have seen their mood swing from effectively 'on suicide watch' to 'everything is fine again'. We're only in the sp'2500s, what happens when we're in the 3000s next year, and we drop 1% at the open? Who at CNBC, Bloomberg, or Fox Business, is responsible for calling the fed to request at least a press release threatening QE4 ?

Market volatility was naturally whacked at the open, and ground down to the mid 11s in early afternoon. With a retrace to the mid sp'2570s, VIX 12.50/13s seem due, before another wave to the 9s. Whether that is before or after the Thanksgiving break.... is of no importance.
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Appropriate.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London

More of the same

US equity indexes closed moderately weak, sp -14pts at 2564. The two leaders - Trans/R2K, both settled lower by -0.5%. VIX settled +13.3% at 13.13. Near term outlook offers a bounce to the 2580s before the weekend. More broadly, the 2650/700 zone is still on track in late December.


sp'daily5

VIX'daily3

Summary

The day began with a mild case of mainstream media bearish hysteria...

Its not what Cramer stated, as the mainstream's lack of perspective, seeing equity futures as 'sharply lower', whilst the sp' was set to open lower by just -10pts (0.4%).Would an opening decline of -25pts (1.0%) now justify the word 'crash' being used?

US equities did indeed open moderately lower, breaking below quad-spike support of 2565/66. The market floored at 2557, to whipsaw back upward, although the closing hour price action wasn't exactly great.

Its notable that the VIX broke to the mid 14s, the highest level since Aug'21st. The key 20 threshold still looks out of range for the rest of the year.
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Grey horror - marginally more inspiring than GE CEO/Chair' Flannery.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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