Wednesday 16 July 2014

Closing Brief

US indexes closed with moderate gains, sp +8pts @ 1981. The two leaders - Trans/R2K, were mixed, settling +0.6% and -0.2% respectively. Near term outlook remains bullish, with the sp' set to break into the 1990/2000s.


sp'60min


Summary

...and yet another day in rainbow & unicorn land comes to a close.

More than anything, it was just another daily tease to the equity bears. Opening gains, but with the R2K turning moderately lower...flirting with the 1150 threshold.

Overall...the broader trend is absolutely bullish, and its just a matter of when the sp' will break the giant psy' level of 2000... not if.

With sig' QE tomorrow... the bulls look fine for the sp'1985/90 zone.
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more later.. on the VIX