Wednesday, 5 August 2015

Closing Brief

US equities closed moderately mixed, sp +6pts @ 2099 (intra high 2112). The two leaders - Trans/R2K, settled higher by 0.1% and 0.2% respectively. Near term outlook is uncertain after today's break above resistance. Until there is a daily close under the 200dma in the low 2070s, equity bears can't be overly confident.



*closing hour, a little mild chop.

... and another day in the twisted casino comes to a close.

Clearly.. the morning gains were a major problem to the bearish case. The intraday cooling was useful, but still, the daily close a touch under the sp'2100 threshold was only a minor consolation to the bears.

Closing under sp'2100..... lucky.
awaiting earnings from TSLA...

more later.. on the VIX