US equity indexes mostly closed moderately higher, SPX +21pts (0.6%) at 3722. Nasdaq comp' +0.8%. Dow +0.5%. The Transports settled +1.1%.
sp'daily5
nasdaq comp'
transports
Summary
SPX: a third consecutive daily gain, breaking a new historic high of 3725, and settling +21pts (0.6%) to 3722. Upper bollinger is offering the 3740s in the near term, although OPEX will likely be inclined to settle nearer psy'3700.
NAS: a fourth consecutive daily gain, breaking a new historic high of 12765, and settling +106pts (0.8%) to 12764. Upper bollinger is offering the 12800s in the immediate term, with 13K viable before year end.
Trans: a third consecutive daily gain, settling +141pts (1.1%) to 12639.. a notably 2pts shy of the 10MA. Even the 50dma around 12K looks a stretch, after Thursday's style of price action.
VIX'daily3
With positive equities, volatility was ground lower, the VIX settling -2.5% to 21.93. Whilst the volatility bulls could argue s/t price structure is a bull flag... it'd be a vain thing to argue, not least ahead of OPEX. On balance, considerable equity chop will result in the VIX being further ground lower into the weekend. There is currently zero reason to expect VIX much above the recent 25s before year end.
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Looking ahead by around 5pm EST
