2017 comes to a close

US equity indexes closed moderately weak, sp -13.93pts at 2673.61. The two leaders - Trans/R2K, settled -0.4% and -0.9% respectively. VIX settled +8.4% at 11.04. Outlook for January/Feb threatens a mini washout of 3-5%, but broadly, we're clearly headed for sp'3K.


sp'daily5

VIX'daily3

Summary

In pre-market, the sp' was moderately higher, and offering new historic highs. Yet, as the market opened, the gains quickly failed. Much of the day was just fractional chop. There was distinct weakness in the closing hour, with the sp' settling -0.5% at 2673.

It was a mixed day for the VIX, seeing a low of 9.95, but then swinging strongly higher as equities cooled into the close.

Even the most hyper bullish recognise the market is due a mini washout. The only issue is 'when'. Seasonally, the market is vulnerable from mid Jan-early Feb'. If the bears can't manage anything then, the next realistic window is not until May/June.
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Close, real close: sp'monthly6b

My original year target came to be just 9.39pts (0.35%) above the yearly close, which I'm very pleased with.Yours truly now needs to finalise an outlook for 2018, not just for the sp'500, but rate hikes, and various other issues.
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A glimpse of sunshine on the last trading day. Bullish!

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

Goodnight from London
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*the weekend post will appear Sat' 12pm EST, and will detail the World equity markets.
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2017 set to wrap

US equity indexes closed a little mixed, sp +4pts at 2687. The two leaders - Trans/R2K, settled -0.3% and +0.3% respectively. VIX settled -2.8% at 10.18. Near term outlook offers further minor chop into the yearly close. As I've been relentlessly touting across the year, the original target of 2683 remains on track.


sp'daily5

VIX'daily3

Summary

It was another day of minor chop for the US equity market. The NYSE comp' once again broke another (if only fractional) historic high of 12843. VIX was naturally subdued, settling in the low 10s.

With just one trading day left of the year...

sp'monthly6

... yours truly is understandably 'curious' as to whether the trading gods will indeed settle 2017 at sp'2683. Regardless, its going to be close.
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An icy day in the London metropolis

.. as the days are starting to lengthen

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

Goodnight from London
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For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.htm

Two trading days left

US equity indexes closed fractionally mixed, sp +2pts at 2682. The two leaders - Trans/R2K, settled +0.2% and u/c respectively. VIX settled +2.1% at 10.47. Near term outlook offers minor chop across the remaining two trading days of 2017. The original settlement target of sp'2683 is set to be mighty close.


sp'daily5

VIX'daily3

Summary

US equities saw another day of fractional chop. It was notable that the NYSE comp' broke a new historic high of 12834, making it a day for the bulls. VIX clawed higher for a third consecutive day, settling in the mid 10s. At most, a sporadic burst to the 11/12s is due, but is far more likely next week.
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Meanwhile...

The US equity record highs have become part of almost every Trump speech/comment. If he takes credit for the  gains, what will happen when the market does (eventually) see a retrace of 5, 10, or 'ohh the humanity' 15/20% ?

For those that regularly watched the campaign rallies across 2015/16, they should be well aware of how Trump is contemptful against the shortside traders. Do not be surprised if he comes to blame them for any 'drama' in 2018.
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Another cold day in London city

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

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





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