Volatility knocked lower

With US equities continuing to climb from the Thursday morning low, the VIX continued to slip, settling -10.0% @ 14.55. The near term outlook is uncertain, and is dependent upon whether the equity bulls can break and hold above sp'1970.


VIX'60min

VIX'daily3

VIX'weekly

Summary

For the equity bears, it was a very disappointing end to the week, with another failure to close above the important weekly 200MA.

VIX 20s still remain a very difficult level to break above.
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more later... on the indexes

Closing Brief

US equities continued higher from the Thurs' low of sp'1926, settling +21pts @ 1967 (intra high 1970). The two leaders - Trans/R2K, closed higher by 2.1% and 0.8% respectively. With prices close to key resistance, near term outlook is uncertain.


sp'60min

Summary

...and another week in the world's most twisted casino comes to a close.
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Well, it was unquestionably a day for the bulls, and we're a clear 2% above the early Thursday low of sp'1926.

As for next week...being so close to resistance, its now very hard to say... but we did see net weekly declines on ALL indexes.

Have a good weekend everyone
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*the usual bits and pieces to wrap up the week.. across the evening...

3pm update - holding at resistance

US equities are holding around key resistance @ sp'1970. There are a great many aspects of further resistance in the 1970/75 zone, not least the 50 dma at 1974. Even if the bears manage to hold below 1970 into the close, the bulls will have another chance on Monday.


sp'60min

Summary

Well, its the closing hour of the week, and frankly, this is an absolutely critical time.

VIX is utterly failing to show any hint of a turn... and is almost a full 3pts below the weekly 200MA.. which was a 'reasonable' target just yesterday morning.
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3.21pm.. STILL stuck around resistance.

There is a minor break of trend... there is 'small' possibility of a little down wave to 1962/60 by the close.

Regardless, a day for the bulls..and it makes for a LOT of uncertainty into next week.


3.40pm... tiresome day and a half.... I certainly didn't expect this... oh well.

With a likely close in the sp'1965/70 zone... it will leave a lot of uncertainly across the weekend.

...back at the close.