US equities closed moderately mixed, sp +1pt @ 2280. The two leaders - Trans/R2K, settled lower by -0.7% and -0.3% respectively. VIX settled +1.0% @ 11.93. Near term outlook offers a weekly close in the 2290/2300s. Further upside to the 2310/30 zone looks highly probable within 2-3 weeks.
It was a day of minor chop, as the US equity market was seemingly content to just churn ahead of the monthly jobs data. Short term price momentum is moderately weak, and at the current rate, we won't see a bullish cross until at least next Tuesday.
VIX naturally remains low, and its notable the CBOE did not scrub yesterday's 9.97 flash print... the lowest VIX since Feb'2007.
Something to stare at for at least a few minutes...
VIX, monthly, 12yr
It should be clear, VIX can stay low for a very long time... sometimes.. years.
Goodnight from London