A very bullish week

US equity indexes closed moderately higher, sp +19pts at 2743. The two leaders - Trans/R2K, settled higher by 0.5% and 0.3% respectively. VIX settled +1.2% at 9.22. Near term outlook is bullish to the sp'2750/60s. More broadly... next big target is the 2950/3047 zone, due in the summer.


sp'daily5

VIX'daily3

Summary

US equities opened higher, and settled higher for a fourth consecutive day, with new historic index highs in the sp, dow, nasdaq comp', nyse comp', and the trans. Only the R2K is missing out.

Volatility remained naturally subdued, with the VIX settling the week in the low 9s. Even the low teens look out of range within the near term. 2017 failed to see VIX >20. At things are, its difficult to see any chance of VIX until equities have at least climbed to the sp'2950/3047 zone.
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Just another day closer to summer

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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 my outlook for 2018.

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Day three for the bulls

US equity indexes closed moderately higher, sp +10pts at 2723. The two leaders - Trans/R2K, settled +0.3% and +0.2% respectively. VIX settled +2.3% at 9.22. Near term outlook offers the 2740/50s, as indirectly suggested via 'big money' SPY call buying. Its notable that the US President is seeking another 20% of upside to Dow 30k.


sp'daily5

VIX'daily3

Summary

US equities opened a little higher, building gains into the afternoon, generating new historic highs in all six of the main indexes I regularly highlight. VIX was naturally subdued, falling into the 8s for a second day, something never seen before. More should recognise that the 7s (at least via a flash-print) are probable by mid 2018.
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Meanwhile, Belski of BMO was busy re-writing history on clown finance TV this morning...

Belski appeared all bold, and was slating those brokers who are now going to 'have to turn bullish' and chase higher. Ohh how he tried to appear the 'smart guy'. With just a little digging, we find that he really ain't so smart...

https://www.marketwatch.com/story/sp-500-expected-to-rise-only-4-by-end-of-2017-2016-12-24

Belski was seeking sp'2350 in 2017, and was effectively just inline with the consensus he was slating this morning. His end 2018 target is 2950, again... inline with consensus.

The mainstream, and that most certainly includes Brian 'Mr consensus' Belski, have no real appreciation of what has been unfolding since Nov'2016. They never saw a Trump victory, and they sure as hell never saw Dow 25k coming in early 2018.
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Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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Another day of new highs

US equity indexes closed moderately higher, sp +17pts at 2713. The two leaders - Trans/R2K, both settled higher by around 0.1%. VIX settled -4.1% at 9.15. Near term outlook is a little mixed, but broadly, even the mainstream recognise 3K is coming this year.


sp'daily5

VIX'daily3

Summary

US equities opened fractionally higher, and built moderate gains into the afternoon. There were new historic highs in the sp'500, dow, nasdaq comp', nyse comp', and the trans. Only the R2K is lagging, but that is very close to recent highs.

With equities remaining strong, the VIX was ground lower, falling into the upper 8s, but settling in the 9s.The key 20 threshold looks out of range for some months. Keep in mind, 2017 didn't see the VIX print >20. Perhaps 2018 will be similar in that aspect.
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Another day closer to summer.

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

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