VIX - subdued into the long weekend

With US equities closing the week moderately mixed, the VIX remained subdued, settling +0.2% @ 12.13 (intra low 11.82). Near term outlook is for continued equity strength into June, which should equate to VIX remaining within the 15/11 zone.


VIX'60min

VIX'daily3

VIX'weekly

Summary

* a VIX net weekly decline of -2.0%
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Suffice to say, with the Dow/Sp'500 breaking new historic highs this week, it was no surprise to see the VIX continue to cool.

Today's low of 11.82 was the lowest level since Dec 5th' 2014.

Now its a case of whether sp'2170s (whether June... or July) might equate to VIX 10s... or even 9s - challenging the all time VIX low of 9.31 - Dec 22nd 1993.
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more later.. on the indexes

Closing Brief

US equities closed moderately weak, sp -4pts @ 2126 (intra high 2132). The two leaders - Trans/R2K, settled lower by -0.8% and -0.4% respectively. Near term outlook remains broadly bullish into the next FOMC of June 17th. 


sp'60min

Summary

*a somewhat weak closing hour, but as ever... nothing of significance, merely a case of some cashing out ahead of the long 3 day weekend.
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.. and another week comes to a close at the world's most rigged and twisted casino.

Without question, with another pair of new index highs - Dow/Sp'500, it was another week for the equity bulls. This is despite some distinct weakness in the 'old leader' - Trans. Understandably, it has received some considerable mainstream attention, but one index does not override the broader market.

Until the market is trading under the giant sp'2K threshold, I can't take ANY bearish talk seriously. It is merely the same top calling nonsense that we've seen the key breakout in summer 2013.

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

3pm update - net weekly gains

Most US equity indexes are set for a third consecutive net weekly gain.. if somewhat moderate, with the sp +0.3%, having broken a new historic high of 2134. The notable exception is the Transports, -2.2% in the 8400s. Relative to the strong USD, equities are performing better than most realise.


sp'weekly

VIX,daily

Summary

*the VIX is at levels last seen Dec 5th' 2014. Right now, the most realistic 'best case' for the VIX bulls would be the 15s, but even that looks difficult in the reminder of May.
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Despite all the rumbling bearish chatter... it has been another week for the equity bulls.. not least with new historic highs in the Dow/sp'500.

Sure, the two leaders - Trans/R2K are showing distinct weakness... but as a collective, the market is comfortably holding within the broader upward trends.
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back at the close.