Thursday, 23 July 2015

Closing Brief

US equity indexes closed lower for a third consecutive day, sp -11pts @ 2102 (intra low 2098). The two leaders - Trans/R2K, settled lower by -2.1% and -1.1% respectively. Near term outlook is for continued weakness into early next week, with sp'2080... along with VIX 15s.



*awaiting earnings from the much beloved hysteria/momo stock that is AMZN. From a pure technical perspective, its due a smack down.. to the 420/410 zone.

So, another net daily decline...  sp'2080 target on track.. along with VIX 15s.



Surprisingly... AMZN actually turned a profit in Q2.. a monstrous 19 cent profit... a PE somewhere in the 500s.

As ever... that kind of nonsense is why I don't meddle in it. Pure... market madness.
more later.... on the VIX