Wednesday 4 June 2014

Closing Brief

US indexes saw yet another day of minor chop, sp +3pts @ 1927 (1928 new historic high). The two leaders - Trans/R2K, settled u/c and +0.4% respectively. Near term outlook offers (at best) 1% of upside for the broader market, but then a likely 1.5-2.0% retrace.


sp'60min


Summary

Little to add..on what was another quiet day.

As things are, I do not expect a sig' equity drop tomorrow - regardless of the ECB announcement, however, I am highly suspicious that after a Friday gap higher, the market might see a somewhat strong intraday move lower.

*I remain on the sidelines, will consider a short term index-short..if sp'1945/50 early Friday. 
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more later..on the VIX