Tuesday, 4 February 2014

Closing Brief

US equities saw a minor bounce, sp +13pts @ 1755. The two leaders - Trans/R2K, settled higher by 1.2% and 0.8% respectively. Near term price action remains weak, with a primary downside target zone of 1710/1690..within days.



*we have a clear bear flag on the hourly index charts. Bulls have a real problem tomorrow

..and another day in market land comes to a close.

For the bears, today's bounce is nothing of significance, and does little to negate the Monday declines.

Perhaps most important to note, the VIX, which is holding the high teens, something it wasn't even able to do in late Dec' 2012.

Bulls should be very wary of the rest of this week.

the usual bits and pieces across the evening...

4.24pm.. The VIX clawed into the low 19s in the brief 15mins of AH trading, as equities have somewhat  weakened from the official closing level.