VIX still cooling

With US equity indexes breaking new historic highs, the VIX remained very subdued, settling -1.8% @ 12.48 (intra high 12.96). Near term outlook is for continued equity strength, which should equate to VIX remaining within the 14/10 zone. The big 20 threshold looks out of range for at least another 3-4 weeks.


VIX'60min

VIX'daily3

Summary

*a notable fourth consecutive net daily decline for the VIX
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Equities continue to claw higher.. with a VIX that can't even hold the low teens.

It would seem the big 20 threshold is out of range until at least the second half of May.. if not until the possibly important FOMC of June 17th.
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more later... on the indexes

Closing Brief

US equities closed moderately higher, sp +4pts @ 2112 (new historic high of 2120). The two leaders - Trans/R2K, both settled higher by 0.5%. Near term outlook remains bullish, not least helped by the USD that appears in the process of a key break of the upward trend.


sp'60min

Summary

*awaiting earnings from AMZN and GOOG
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A little weakness into the close, but still, with new historic highs for the sp'500 and NYSE Comp'.. with a post 2009 high in the Nasdaq, today was another victory for the bull maniacs.

The trend is clear... and there looks to be further upside into May.

For me, its now largely about the USD. A key break of the uptrend is underway... that will help give the market a further kick higher into the summer.

The 'fun' really only begins once the USD floors.. whether its DXY 93, 92s.. or a little lower. The hyper-ramp to the 120s will be something that will catch most completely off guard.

Anyway... interesting day...
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4.10pm.. AMZN EPS -12 cents.. inline... as sales beat...

Stock goes +7%... but now in FULL reverse... -1% or so...

4.33pm.. AMZN swings from an AH low of $371 to $401... but overall... the earnings plain.. suck. Worse board of directors in the western world.

*I have never traded AMZN.. but sure keep an eye on it for purely 'entertainment purposes'.


4.57pm... it would seem other earnings from GOOG, MSFT, and SBUX all came in 'broadly fine'.

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more later... on the VIX

3pm update - holding gains into the close

US equities look set for net daily gains, with the sp' likely to settle within the 2118/12 zone. VIX continues to reflect a market with no concern of anything... least of all.. Greece. Oil has cooled a little from earlier highs, but still set for sig' gains of around 2.3%. USD continues to cool.


sp'60min

UUP, weekly

Summary

*earnings due.. AMZN, and the GOOG
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Little to add.

Just another day where the market opens a little weak, but then the buyers come in.. with a near complete absense of sell side.
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*having exited TWTR at the open, I'm more than content to hold USO-long.. overnight. and probably across the weekend.