Opex gains

US equity indexes closed moderately higher, sp +13pts at 2575. The two leaders - Trans/R2K, settled higher by 0.9% and 0.5% respectively. VIX settled -0.8% at 9.97. With a new historic high of sp'2575, the year end target of 2683 has come within 4.2% of being hit, with 48 trading days left of the year (scary thought?).


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and it was enough to generate the usual quartet of index highs (sp, dow, nas' comp', nyse comp'. With a new historic high of 2575.44, the equity bears are back to square one. Clearly, the market remains overdue a cooling wave, but until we take out yesterday morning's low of 2547, the bears can't have any confidence.

With equities breaking new highs, volatility was naturally subdued, with the VIX settling the week in the upper 9s. A burst to the mid teens remains highly probable, and looks viable next Wed/Thursday.
--

As for 2683: sp'monthly6b

Today's close brings my year end target within just 4.2%. Even to me, its pretty incredible to see, as we've two full months left of the year. You know we're currently headed for 3k by mid 2018, right?
--

Just another bullish week

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

Goodnight from London
--

*the weekend post will appear Sat'12pm, and will detail the US weekly indexes.
--

If you value my work, subscribe to me.

For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html

A break lower

US equity indexes closed fractionally mixed, sp +0.8pts at 2562. The two leaders - Trans/R2K, settled lower by -0.1% and -0.2% respectively. VIX setttled -0.2% at 10.05. Near term outlook offers soft target of 2540/37, that would be negated on any new historic high >2564.11.


sp'daily5

VIX'daily3

Summary

US equities opened moderately lower, with an early floor of sp'2547. There was a choppy recovery that took the market fractionally higher into the close. Its notable that 4 of the 6 main indexes did settle fractionally lower.

Market volatility remains broadly subdued, with the VIX seeing a cash market high of 11.10 (pre-market high was 11.77), but then cooling all the way back to around the 10.00 threshold.

To be clear, unless we break a new historic high >sp'2564.11, we have a valid s/t high, with initial soft target of 2540/37. More broadly, primary target is the Sept'11th gap zone of 2474/61.
--

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

Goodnight from London
--

If you value my work, subscribe to me.

For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.html

Another quartet of highs

US equity indexes closed moderately mixed, sp +1.9pts at 2561. The two leaders - Trans/R2K, settled higher by 0.8% and 0.5% respectively. VIX settled -2.3% at 10.07. Near term outlook offers a sig' break lower, with first soft target of 2540/37. Its time for the equity bears to make an appearance.


sp'daily5

VIX'daily3

Summary

US equities opened fractionally higher, and it was enough to generate yet another quartet of new historic highs in the sp', dow, nasdaq comp', and nyse comp'. Price action was a little twitchy though, especially within some of the tech stocks.

Market volatility remains very subdued, with the VIX briefly falling into the 9s today, but settling in the 10s.

Near term outlook offers a long overdue cooling wave. First soft target is sp'2540/37, which should equate to VIX 12s. Even then, that is not something the equity bears should get excited about right? 
--


Here in the metropolis...

A misty autumnal evening

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

Goodnight from London
--
If you value my work, subscribe to me.

For details: https://permabeardoomster.blogspot.co.uk/p/subscriptions.htm