Open day - Thursday

US equity indexes closed moderately mixed, sp +4pts at 2555. The two leaders - Trans/R2K, settled +0.5% and -0.1% respectively. VIX settled -2.3% at 9.85. Near term outlook offers a sig' break lower, as the gap zone of sp'2474/61 remains a technical necessity, before a better chance of the 2600s by late November.


sp'daily5

VIX'daily3

Summary

It was another rather tedious day in equity land, with the sp' generally trading within an exceptionally narrow 4-5pt range. There was algo-bot upward melt in the late afternoon, and it was enough to see the sp'500 break a fractional new historic high, as the indexes settled in AH.

Market volatility remains exceptionally subdued. Short term price structure in the VIX is a baby bull flag, which offers the 11/12s before the weekend. Unless there is some 'spooky news', its difficult to see the 13/14s until at least early next week.

re: sp'2474/61. It remains a 'technical necessity'. I realise some might disagree, but its no different than the July 12th gap. That took some weeks longer than expected, but it was eventually tagged/filled.
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Open day

Thursday, I will post here across the day. For you non-subscribers out there, it'll give you a glimpse of what I continue to offer each and every trading day. I can only hope that the main market livens up a bit, so as to make things at least reasonably entertaining.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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The next post will appear on THIS page Thursday at 8.30am EST.

Another quartet of new highs

US equity indexes closed on the positive side, sp +5pts at 2550. The two leaders - Trans/R2K, settled higher by 0.6% and 0.3% respectively. VIX settled -2.4% at 10.08. Near term outlook still offers the basic 'technical necessity' of a gap fill of sp'2474/61, before the 2600s are realistically viable around Thanksgiving.


sp'daily5

VIX'daily3

Summary

US equities opened a little higher, and it was enough to generate a quartet of new historic highs in the sp'500, dow, nasdaq comp', and nyse comp'. Morning gains did fade though, with a few indexes turning fractionally red. There was another minor wave higher into the late afternoon.

Market volatility remains very subdued, although the VIX did notably manage a second consecutive daily settlement above the 10.00 threshold. In theory, the 12/13s look a given, but its possible we might see the mid teens, with sp'2474/61. Right now, that looks out of range until at least the middle of next week.
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... another day closer to winter.

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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Cyclically tired

US equity indexes closed a little weak, sp -4pts at 2544. The two leaders - Trans/R2K, settled lower by -0.2% and -0.4% respectively. VIX settled +7.0% at 10.33. Near term outlook offers the basic 'technical necessity' of sp'2474/61, whilst the end year target of 2683 remains on track.


sp'daily5

VIX'daily3

Summary

US equities opened in micro chop mode, and that was how it remained across the day. The Dow and Nasdaq comp' did break fractional new historic highs. Market volatility remains very subdued, although the VIX did finally manage to break and hold the 10.00 threshold for the first time since Sept'26th.

Cyclically, daily price momentum is in the early phase of swinging back toward the equity bears, although at the current rate, nothing of significance can be expected for at least another 2-3 days.

Things are set liven up by this Thursday, when the first of the financials start to report.
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Not exactly the best of sunsets

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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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