Closing Brief

The main indexes all closed lower, but the declines were relatively moderate, with the sp -10pts @ 1697. The market leaders - Trans/R2K, closed -1.3% and -1.0% respectively. A final small wave to the sp'1715/25 target zone still seems likely within the next two trading days.


sp'60min

Summary

As I've seen a few hundred times in the past few years, the morning declines levelled out by 11am..and then it was merely a case of when..not if...the latter day recovery would begin.

With the sp' closing above the important lower channel line, it would seem we'll get another wave higher across Wed/Thursday.

*considering there is a mid-sized QE of $3bn on Thursday, I'll be inclined to wait until that is out of the way.
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the usual bits and pieces across the evening