Closing Brief

Another day of bullish hysteria in market land, with all the indexes seeing significant gains. The sp +21pts @ 1706.The market leaders - Trans/R2K, saw powerful gains of 3.3% and 1.4% respectively. This likely remains sub wave'5, and we're now within 1-2% of a top.


sp'60min

Summary

I realise, for those already short.some from days..or even weeks ago, this remains a contemptible and nasty market.

I can only say that I am holding to my original outlook, a multi-week down cycle..into early September...somewhere in the sp'1600/1550 area.

Today was merely another reminder of just how stupid this all is.
--

I remain on the sidelines, seeking a heavy index short in the sp'1715/25 zone...tomorrow...or no later than early next week.
-

the usual bits and pieces across the evening...