Friday, 28 August 2015

Closing Brief

US equities closed moderately mixed, sp +1pt @ 1988 (intra high 1993). The two leaders - Trans/R2K, settled higher by 0.5% and 0.8% respectively. Near term outlook is for a retrace to the 1945/30 zone, before renewed upside to 2050/70 zone, into the week of the next FOMC (Sept'17).



*closing hour.. a fair bit of moderate chop... but managing a broadly flat close.

... and one of the wildest trading weeks EVER... comes to a close.

Congrats to all who survived it!

It does look like we'll fall to 1945/30 next week.. before pushing above the big 2000 threshold in early September.

Broader outlook... sp'2050/70.... then downside (at least) to the Oct'2014 low of 1820. The 1725/00 zone looks possible in Oct, which would make for a natural 38% fib' retrace of the gains from Oct'2011.

*thanks for all the messages/emails this week, it has meant I've not slept as much.. but I think that is what weekends are for.

Have a good weekend
*the usual bits and pieces across the evening to wrap up the week