April soon to wrap

US equity indexes closed moderately mixed, sp -1pt at 2387. The two leaders - Trans/R2K, settled -0.9% and +0.6% respectively. VIX settled +0.8% at 10.85. Near term outlook offers continued upward grind, as the equity bears are being systematically short-stopped with new historic highs.


sp'daily5

VIX'daily3

Summary

It was a pretty choppy day, arguably as the market was mostly just consolidating the past two days of gains. It was notable that the Nasdaq comp' (6040) and the R2K (1425) both broke new historic highs.

Volatility remains extremely subdued, as the US equity market is set to end the month on a positive note. The key VIX 20 threshold looks out of range until at least Sept. 
--


April set to wrap

sp'monthly1b

With two trading days left of the month, all US equity indexes are set for at least moderate net monthly gains.

Most notable, the 10MA - currently at 2246. At next Monday's open it will be in the 2270s, and as of June 1st... around the 2300 threshold.

Equity bears have NOTHING to tout unless a break AND monthly settlement under the 10MA. I recognise some of you like the 13MA.. or something similar. In the scheme of things, it makes little difference. For now, the mid term bullish trend remains comfortably intact.

As ever, for some extra charts in AH, see: https://twitter.com/permabear_uk

Goodnight from London
--

Another set of new historic highs

US equity indexes closed broadly higher for a second consecutive day, sp +14pts at 2388. The two leaders - Trans/R2K, settled -0.4% and +0.9% respectively. VIX settled -0.7% at 10.76. With the Nasdaq and R2K at new historic highs, the sp', dow, and others.. are set to follow.


sp'daily5

VIX'daily3

Summary

It was another day for the equity bulls, with new historic highs for the Nasdaq comp' (6036), and the R2K (1415).

For the sp'500, the closing hour break above big resistance of 2380/90 was very significant, and offers a monthly close around the 2400 threshold.

Volatility was itself choppy, and notably saw a new cycle low of 10.22. The key 20 threshold looks out of range for some months.
--

Here in the metropolis...

Blustery... cold.... sleet/snow/hail.... its not summer yet.

Goodnight from London
--

Key breaks in Germany and France

US equity indexes closed significantly higher, sp +25pts at 2374. The two leaders - Trans/R2K, settled higher by 1.6% and 1.3% respectively. VIX settled -25.9% at 10.84. Near term outlook offers a few days of consolidation chop, but as things are, US equities are now set for net monthly gains.


spdaily5

VIX'daily3

Summary

With the market believing that 'President Macron' is a sure thing (Sun' May 7th), most world markets jumped significantly higher. Today saw the sp'500 approach big resistance of 2380/90. Regardless of any near term consolidation/chop, it does look like we'll see most indexes settle net higher for April.

With the election uncertainty out of the way, volatility collapsed, with a somewhat incredible daily close in the VIX 10s. Does anyone really think the key 20 threshold is viable any time soon?
--


Germany and France soar

I recognise some (perhaps many) of you don't much care, but the implications for other markets - including the US are undeniable.

The German DAX broke a new historic high today, the door is now open to 14/15k.

The French market naturally saw the most powerful of gains... breaking the 2015 high.

A push to the 6000s is now on the menu, whether by year end or early 2018, it really makes no difference.

Goodnight from London
--