Monday, 27 July 2015

Closing Brief

US equity indexes closed broadly weak, sp -12pts @ 2067. The two leaders - Trans/R2K, settled lower by -0.2% and -0.9% respectively. Near term outlook is for further weakness, and regardless of any Wed/Thursday bounce, the market looks set for Dow 17000, sp'2000, along with VIX in the low 20s.



For the equity bears... a good start to the week.

There is clear VIX resistance around 16.60, and we might well get stuck there tomorrow morning.. before seeing considerable chop into Wed' afternoon, before a moderate 1-2 day bounce.

*having exited VIX-long, I am seeking a re-entry in the 15.00/14.50 zone... whether tomorrow, Wed'... or Thursday.

more later... on the VIX