VIX climbs into the close

With equities closing moderately weak, the VIX battled upward into the close, settling +4.6% @ 16.47. There will be increasing resistance in the 17/18s... sustained action above the key 20 threshold looks unlikely in the near term.


VIX'60min

VIX'daily3

Summary

Nothing to add.

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more later... on the indexes

Closing Brief

US equity indexes closed moderately weak, sp -11pts @ 2018 (intra high 2037). The two leaders - Trans/R2K, settled lower by -0.5% and -1.6% respectively. Near term outlook is for further equity upside, with all indexes set to test their respective 200dmas.


sp'60min

Summary

*closing hour: some distinct weakness into the close... but still.. nothing significant.
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So... another broad day of chop.

No doubt some will be getting overly excited at the net daily declines, but then... most of those same people have been holding short from the sp'1900/50 zone.

For the moment I can't take any of the sporadic down waves seriously.

Lets see how China trades overnight.. and how the EU market reacts to the ECB tomorrow.

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more later... on the VIX

3pm update - chop into the close

US equities are set to close with further minor chop for a fourth consecutive day. The smaller 15/60min cycles are arguably floored at sp'2020, and with an ECB announcement/press conf' tomorrow, the equity bears should be very mindful that Draghi might help inspire a major break above the 200dma.


sp'60min

vix'60min

Summary

Tiresome day.

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*Oil remains notably weak, -1.7%... having tried to rally after the inventory reports.... failed.