Ending the week strong

US equity indexes ended the week on a positive note, sp +17pts (0.6%) at 2879. The two leaders - Trans/R2K, settled +0.2% and +0.5% respectively. VIX settled -3.4% at 11.99. Near term outlook offers upside of another 1% into the Labor day holiday break.


sp'daily5

VIX'daily3

Summary

US equities opened a little higher, and built gains into the afternoon. The R2K was the first to break a new historic high, followed by the Nasdaq comp', and then the sp'500. On any basis, it was a very strong end to the week.

Volatility was naturally subdued, with the VIX melting into the upper 11s.
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Chop ahead of Powell

US equity indexes closed a little weak, sp -4pts (0.2%) at 2856. The two leaders - Trans/R2K, settled -0.5% and -0.3% respectively. VIX settled +1.3% at 12.41. Near term outlook offers Powell induced upside into the weekend.

sp'daily5

VIX'daily3

Summary

US equities opened fractionally weak, saw a little swing from 2859 to '68, and then saw further chop, leaning on the weaker side into late afternoon.

Volatility remained subdued, swinging from a low of 11.65, and settling in the mid 12s. If Powell can help inspire equities higher on Friday, then VIX will settle the week in the 11/10s.
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Midweek chop

US equity indexes closed rather mixed, sp -1pt at 2861. Nasdaq comp' +0.4% at 7889. The two leaders - Trans/R2K, settled -1.0% and +0.2% respectively. With the R2K breaking a new historic high today, near term outlook offers the sp'2880s before the weekend.

sp'daily5

VIX'daily3

Summary

US equities opened a touch weak on Trump-related political concerns. However, the opening level was around 12pts above the overnight futures low. From an early low of 2856, the market jumped to 2867, before a great deal of afternoon micro chop. Its notable the R2K did break (if only fractionally) a new historic high of 1723.01.

Volatility was notably subdued - especially relative to the overnight mainstream mild hysteria, with the VIX settling in the low 12s.
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Another day closer to autumn

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