US equity indexes mostly closed positive, SPX +23pts (0.6%) at 3898. Nasdaq comp' -0.04%. Dow +1.5%. The Transports settled +0.6%.
SPX - daily5
VIX - daily3
Summary
US equities opened on a positive note, and battled upward into the mid afternoon. The SPX has notably broken above the most recent lower high of 3914, and it arguably cements last Thursday's low of 3723.
Meanwhile...
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| The Faber remembering Haines |
Twelve years, and I do remember the day. Seven trillion dollars of QE, and some years of ZIRP have clearly 'helped' drive the Nasdaq comp' upward by almost 1000%.
The afternoon saw considerable chop, if breaking a new bounce high of sp'3917, and late day cooling to settle at 3898.
Volatility was naturally ground lower, the VIX settling -6.1% to 22.56.
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Goodnight
from London
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