VIX a little higher

Despite equity indexes closing moderately higher, the VIX managed to remain net higher, settling +2.8% @ 12.73 (intra high 13.22). Near term outlook is for continued equity upside to the sp'2170s... which should equate to VIX remaining stuck within the 15/11 zone in mid June.


VIX'60min

VIX'daily3

Summary

Little to add.

VIX looks set to remain subdued until the next FOMC of June 17th. Even then, the big 20 threshold looks unlikely to be broken/held above for more than a few days.. if not hours.
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more later.. on the indexes

Closing Brief

US equity indexes closed moderately higher for the third consecutive day, sp +6pts @ 2129 (intra high 2131). The two leaders - Trans/R2K, settled higher by 0.7% and 1.1% respectively. Near term outlook is for broader upside to the sp'2170s by the FOMC of mid June.


sp'60min

Summary

*closing hour was micro chop...  nothing of significance
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The week starts pretty muted, but still, the market manages another pair of new historic highs in the headline indexes of the Dow and sp'500.

This is no market for the equity bears.. at least until mid June.. and even then...if 2170... there would be strong support at the 200dma in mid July around 2060. So.. a mere 5% downside.. initially viable.
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*the usual bits and pieces across the evening...

3pm update - a third day for the bulls

US equity indexes look set to close higher for the third consecutive day.. with Dow 18300s and sp'2130s. USD is continuing to build sig' gains of 1.2% in the DXY 94.20s. Metals are under pressure from the rising USD - but holding up relatively well, Gold -$1.


sp'daily5

GLD, daily

Summary

*Gold was set for a fifth consecutive net daily gain..  but is clearly under some distinct pressure as the USD just keeps on climbing today.
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Without question.. a day for the bulls, with notable new highs in the Dow and sp'500.

Yes the Trans is badly lagging, but with the Nasdaq comp' just 1% from breaking the tech' bubble high... this remains no market for anyone to attempting to short.
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notable weakness (one of the few)... coal miners, BTU -7.8%..

strength: AAPL +1.4%... as the mainstream start pondering about what $240 might imply for the main market.
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back at the close...