Tuesday 8 April 2014

Closing Brief

US indexes closed moderately higher, with the sp +6pts @ 1851.  The two leaders - Trans/R2K, settled u/c and +0.8% respectively. Outlook for Wednesday is a continued bounce, but getting stuck in the 1865/75 zone, before resuming the down trend.


sp'60min


Summary

*Alcoa (AA), earnings due.
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tiring day...

suffice to say...I'm holding to the notion that this is just a bounce.

We have seen a clear 'reversal on good jobs news' last Friday morning, and the price action across Friday-Tuesday morning was some of the most consistent weakness we've seen since late January.
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Best guess.. .bounce concludes tomorrow..sometime between 11am - 2pm, in the 1865/75 zone.

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more later..on the VIX