Weakness into the weekend

US equity indexes closed on the weaker side, sp -7pts (0.3%) at 2656. The two leaders - Trans/R2K, settled +0.1% and -0.5% respectively. VIX settled -5.8% at 17.41. Near term outlook offers further weakness on Monday, but nothing sustained under sp'2600... where the key 200dma is lurking.


sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, seeing an early high of 2680, but then the sellers appeared, and there was choppy cooling into the late afternoon, with an intra low of 2645. The daily close (especially within the Transports) bodes bearish for early Monday.

Despite equities ending on a weak note, the VIX declined for a fourth day, settling in the mid 17s. A sporadic burst to the key 20 threshold is very viable next Mon/Tuesday.

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*the weekend post will appear Sat'12pm EST, and will detail the US equity indexes.
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Earnings set to pour in

US equity indexes closed broadly higher, sp +21pts (0.8%) at 2663. The two leaders - Trans/R2K, settled higher by 1.6% and 0.7% respectively. VIX settled -8.6% at 18.49. Near term outlook offers weakness into the weekend, as volatility remains relatively elevated.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and built gains across the morning. The sp' saw some considerable chop under resistance of 2674/72. There was a fractional breakout in the closing hour, but then leaning on the weaker side, cooling by around 10pts to 2663.99.

With equity strength, volatility cooled for a third consecutive day, settling in the mid 18s.

Friday is set to see superb earnings from some of the financials. However, the market does remain very twitchy, and cyclically, we will be inclined for weakness into the weekend. The simmering 'Syrian situation' will likely see some of the more cautious bulls close out ahead of the weekend.

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Troublesome tweet

US equity indexes closed moderately mixed, sp -14pts (0.5%) at 2642. The two leaders - Trans/R2K, settled -0.3% and +0.2% respectively. Near term outlook offers Thursday weakness, but the sp'2600 threshold should hold.


sp'daily5

VIX'daily3

Summary

US equities opened moderately lower, directly pressured via...

Regardless of whatever you might think of the US President, such comments did unquestionably upset the US/world capital markets in early morning. I'll merely add that I see such a tweet as 'troublesome'.

Despite pre-market significant declines, equity bears couldn't manage much of anything, and we even saw some of the indexes turn fractionally higher in early afternoon. There was some natural late afternoon weakness, as some of the more cautious bulls closed out on concerns of possible overnight missile launches.

VIX was pretty subdued across the day, settling lower for a second day, but still broadly holding the key 20 threshold.

The outlook for Thursday leans bearish, but we shouldn't see any price action <2600, where the key 200dma is soon to reach. Earnings - which should be superb, are set to start pouring in this Friday with C, JPM, WFC, and PNC.

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