New highs into the weekend

US equity indexes ended the week on a positive note, sp +12pts at 2810. The two leaders - Trans/R2K, settled +1.3% and +0.4% respectively. VIX settled -8.1% at 11.27. Near term outlook offers the 2820/30s. More broadly, first big target is 2950/3047, where the market will get stuck... much like May 2015.


sp'daily5

VIX'daily3

Summary

US equities opened fractionally mixed, and from there, it was mostly a day of very minor swings. However, the sp'500, Nasdaq comp', and NYSE comp', did manage new historic highs in the late afternoon. Considering it was opex, these new highs were just another reminder of how super strong underlying price pressure is.

Volatility cooled into the weekend, as Mr Market shrugged off any concerns about a possible (if unlikely) US govt' shutdown.
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Bonus chart: Italy, monthly

The Italian market is currently +8.7% at 23749. A monthly close (whether Jan', or Feb') >24k will offer grander upside to at least 35k by mid 2019. Huge implications for other markets.
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The sun sets on yet another bullish week

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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 weekend post will appear Sat'12pm EST, and will detail the US equity indexes 
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Thursday chop

US equity indexes closed on the weaker side, sp -4pts at 2798. The two leaders - Trans/R2K, settled u/c and -0.6% respectively. VIX settled +2.6% at 12.22. Near term outlook threatens moderate weakness into the opex-weekly close. More broadly, first big target remains 2950/3047, which is clearly at least a few months away.


sp'daily5

VIX'daily3

Summary

US equities opened a little weak, saw some chop, leaned a little higher into mid afternoon, with closing hour minor weakness. The Dow notably broke a new historic high.

VIX saw a few minor swings, notably settling higher for the 9th day of past 10. Cyclically high, with the VIX highly prone to cooling back into the 10/9s by end month.
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Bonus chart: China, monthly

The Shanghai comp' is currently net higher for January by a very significant 5.1% at 3474. This is a provisional breakout. The 3500s would be decisive, and offer 4500 within 9-15 months. Huge implications for other world markets.

I'd also refer you to the Russian (RTSI) and Italian (MIB) markets. 
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A day of blustery showers in the metropolis

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Goodnight from London
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Wednesday rebound

US equity indexes closed broadly higher, sp +26pts at 2802. The two leaders - Trans/R2K, settled +0.3% and +0.9% respectively. VIX settled +5.3% at 11.91. Near term outlook offers a little chop. More broadly, Mr Market remains on track for the sp'2950/3047 zone by mid summer.


sp'daily5

VIX'daily3

Summary

US equities opened moderately higher, and after some early morning 'shaky chop', the market resumed upward, building borderline significant gains. The Dow and NYSE comp' notably broke new historic highs, which does help to negate yesterday's reversal.

With equities a little shaky in early trading, the VIX broke a new multi-month high of 12.81, but then cooled into the mid afternoon, settling moderately higher in the upper 11s.
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Cashin with an appropriate hat.

If I'm right about the mid sp'3200s by year end, Art will need another 3 or 4 hats, as Dow 29/30k would be the direct equivalent.
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One more day closer to summer.

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Goodnight from London
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