Monday 2 March 2015

Closing Brief

US equities closed moderately higher, sp +12pts @ 2117. The two leaders - Trans/R2K, settled higher by 0.9% and 0.7% respectively. With new historic highs in the R2K, Dow, and Nasdaq, there looks to be viable upside to the sp'2130s.


sp'60min


Summary

A pretty tedious day to start the month.... as the market continues to just broadly grind higher.

Overall price action remains muted... on relatively low volume (much of which is of course via the central banks... and via corporate buybacks).

Equity bears have little hope until late April/May. Even then.. a correction will be from much higher levels.. and the resultant cycle low might be where we are currently trading.
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more later... on the VIX