Monday, 6 July 2015

Closing Brief

US equities closed moderately weak, sp -8pts @ 2068 (intra low 2058). The two leaders - Trans/R2K, settled lower by -0.5% and -0.1% respectively. Near term outlook is for further downside to the 2040/30s.. with VIX 20/21s. A key cycle low looks due, with renewed upside into early August.



*closing hour.. a lot of chop...with some degree of a short-stop cascade..  annoying those bears holding short overnight.

An interesting.. and busy start to the week...

Further weakness looks due tomorrow... with the Sunday night futures low - equiv' to 2044, highly probable.

4.12pm.. For no apparent reason, price action has jumped immediately after the close... sp +5pts... with VIX cooling to the low 17s. More sporadic Greek headlines... no doubt.

more later... on the VIX