Closing Brief

US equities clawed higher from an earlier low of sp'2046, settling -0.7pts @ 2058. The two leaders - Trans/R2K, settled lower by -0.4% and -0.5% respectively. Near term outlook offers a brief test of the 50dma (2040) early next week, before renewed upside into the sp'2100s.


sp'60min

Summary

Interesting day... but overall.. its all minor moves.

I see a few are already calling sp'2046 (38% fib retrace of 2092/1972 wave).. as a short term floor.

In any case, I can't see the market trading under 2k any time soon.

Have a good weekend

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Daily wrap at 8pm EST.