VIX fractionally higher

With the equity market cooling in the late afternoon, the VIX clawed back to positive, settling +0.9% @ 12.85. Near term outlook offers continued upside into the next FOMC of June 17th, which should equate to VIX remaining within the 15/11 zone.


VIX'60min

VIX' daily3

Summary

*with a touch of equity weakness in the late afternoon, the VIX turned positive, but still... 1% of the 12s remains a very low VIX.
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Suffice to say... market volatility remains very low. The big 20 threshold looks out of range until at least the next FOMC of June 17th.
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more later.. on the indexes

Closing Brief

US equity indexes closed moderately mixed, sp -1pt @ 2127 (intra high 2133). The two leaders - Trans/R2K, settled lower by -0.8% and -0.1% respectively. Near term outlook remains bullish into the next FOMC of June 17th... at which point the sp'2170s will be viable.


sp'60min

Summary

*closing hour was a bit of choppy mess... especially the closing minutes, which saw some wacky action in BABA...

5min

I'm not yet aware of the reason why, but that sure was a big closing hyper-ramp.
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As for the broader market... it remains bullish... but with notable weakness in the Transports.
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*I remain short Gold via GLD (currently underwater from the 114s)... seeking an exit in the 113s before the weekend.
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the usual bits and pieces across the evening.. to wrap up the day

3pm update - Transports remain problematic

Whilst the broader market minor gains have flipped to fractionally negative in most indexes, the standout laggard remains the Transports, -0.7% in the 8600s. The current declines are especially notable as Oil is lower by a very significant -4.0%.


Trans, daily

GLD, daily

Summary

*With the USD set to close with sig' net gains for a second day, both the metals and Oil are set to close significantly lower.
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As for the Transports.. it IS a very important index to watch.

Best guess.... the Trans to break UP.. >8800... but clearly.. if  that is not the case.. and the Trans goes much below 8500... it'll be suggestive of broader market weakness.
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notable weakness, oil/gas drillers, RIG -6.6%, with SDRL -4.0%
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3.16pm... first soft support 2120/18 or so.

Ironic that two consecutive red hourly candles merits a mention.

Trans -0.8%... hmmmm


3.33pm.. Someone has hit the sell button on AAPL.... a lot of trades flying though right now...

sp' -3pts 2125.... its all minor so far.


3.54pm.. BABA going crazy UP........... no idea why... I'm watching Eurovision, lol