US equity indexes closed the week on a positive note, sp +13pts (0.5%)
at 2840. The two leaders - Trans/R2K, settled +0.4% and -0.5%
respectively. Near term outlook offers another s/t rollover, as the sp'2760s
remain long overdue.
sp'daily5
VIX'daily3
Summary
Yesterday's daily candles did lean for further s/t upside, and that did largely play out today. The sp' settled moderately higher, with the VIX melting lower into the weekend.
sp'weekly
The sp' saw a fifth consecutive net weekly gain, with the sp +21pts (0.8%) at 2840.
US equity indexes closed on a positive note, sp +13pts (0.5%) at 2827
(intra low 2796). The two leaders - Trans/R2K, settled +0.6% and +0.7%
respectively. Near term outlook offers another cooling wave back to
support of sp'2796/95.
sp'daily5
VIX'daily3
Summary
US equities opened moderately weak, but there was an opening reversal, and the market clawed upward across the day. The sp' settled with a bullish engulfing candle, which does lean to s/t upside. VIX swung from the mid 14s to the low 12s.
Basic technical necessity remains sp'2768, but the s/t outlook is conflicted, as today's settling candles are suggestive of further strength, against daily price momentum that still leans to the bears.
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The trillion dollar tech monster
Today was Apple's day, as it became the first one trillion dollar company.
AAPL, 1983-2018
First, keep in mind that the AAPL IPO was Dec'1980, but my data only starts from 1984. In any case, things really only got interesting from March 2009 onward. The next $1trn stocks: AMZN, GOOGL, and MSFT. Would that make for the 'four horseman'?
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US equity indexes closed moderately mixed, sp -2pts (0.1%) at 2813. The
two leaders - Trans/R2K, settled -0.8% and -0.1% respectively. Near term
outlook continues to offer technical necessity of 2768, before resuming
strongly upward.
sp'daily5
VIX'daily3
Summary
US equities opened in minor chop mode, leaning on the positive side. The sp' managed to choppily claw to 2825, but then got stuck just under a few aspects of resistance. There was a moderate rollover into the mid afternoon, before a late afternoon (largely weak) mini ramp. The daily close leans bearish into Thursday.
Volatility continues to increase, with the VIX settling higher for the third day of four. S/t outlook offers the sp'2760s, which would likely equate to VIX 15/16s.
