Closing Brief

The main indexes closed moderately lower, with the sp -8pts @ 1763, having earlier peaked at a new high of 1775. The two leaders - Trans/R2K, saw particular weakness, closing -0.6% and -1.5% respectively. Near term weakness to the sp'1730s seems viable, before another wave higher.


sp'60min

Summary

Well, that's another FOMC out of the way..just one more left of this year (Wed' Dec'18)..and I sure don't expect any change then either.

Equity bulls have QE fuel of $85bn until at least early 2014..and 'significant QE' across ALL of next year.

Frankly, all those expecting (or rather...hoping) for a major decline before year end..just need to take a serious break.
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The usual bits and pieces across the evening...
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UPDATE 4.10pm

FB soars 15%, +$7..to the 56/57s, on much better earnings.


4.58pm... FB cooling down a bit.. +$4 @ $53.50, that is still a significant gain of 8/9%. I'd have to guess it'll be trading in the 54/55s tomorrow morning.


5.42pm.. FB is upsetting a few in the earnings call, the stock has lost all the gains..and even flipped moderately red into the $48s.

Still, the numbers were good, but the earlier high of 56/57 now looks a very long way up..and unattainable tomorrow.