Gains into the weekend

US equity indexes closed moderately higher, sp +14pts at 2651. The two leaders - Trans/R2K, settled higher by 0.4% and 0.1% respectively. VIX settled -5.7% at 9.58. Near term outlook offers a little cooling, but broadly, the year end target of 2683 remains on track.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and held gains into the weekend. Volatility was naturally ground lower for a fourth consecutive day, with the VIX notably back in the 9s. The 8s, even 7s are a viable threat before year end, not least if sp'2680/2720 zone.
--

T-14 trading days left of 2017

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

Goodnight from London
--

*the weekend post will appear Sat' 12pm EST, and will detail the US equity indexes

Positive Thursday

US equity indexes closed broadly higher, sp +7pts at 2636. The two leaders - Trans/R2K, settled +1.3% and +0.8% respectively. VIX settled -7.8% at 10.16. Near term outlook offers a weekly close around 2645/50. The year end target of 2683 remains on track.


sp'daily5

VIX'daily3

Summary

US equities opened in minor chop mode. Cyclically, the s/t setup always favoured the bulls, and the market duly leaned upward into the afternoon, with notable sig' strength in the Transports.

With equites pushing upward, volatility was naturally ground lower for a third day. The 9s are clearly viable into the weekend. Something to consider is that the 8s, even the 7s are possible by year end.

I recognise some of you are still seeking some kind of mid/long term top, but I sure don't see it any time soon. Sp' 3K seems a given, as early as next spring. If certain stocks break certain thresholds (such as INTC >52), along with sp'3100s, then you can add another 800/900pts to around 4k. T-15 trading days left of the year.
--

The First glimpse of sun in London since Friday Dec'1st.

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

Goodnight from London
--
If you value my work, subscribe to me.

For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html

Moderate midweek chop

US equity indexes closed a little mixed, sp' -0.3pts at 2629. The two leaders - Trans/R2K, settled u/c and -0.5% respectively. VIX settled -2.7% at 11.02. Near term outlook offers moderate chop within sp'2630/65. More broadly, the year end target of 2683 remains on track, with sp'3K viable as early as next spring.


sp'daily5

VIX'daily3

Summary

It was a day of moderate chop, with the sp' seeing a morning low of 2624, and clawing upward into the low 2630s. VIX itself remained naturally subdued, settling in the low 11s. It should be clear, not least based on recent price action, the sp'2700s and Dow 25k are viable before year end.

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

Goodnight from London
--
If you value my work, subscribe to me.

For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html