Friday, 7 August 2015

Closing Brief

US equities closed broadly weak, sp -5pts @ 2077. The two leaders - Trans/R2K, settled lower by -1.4% and -0.7% respectively. Near term outlook is for continued downside to Dow 17000, along with sp'2040s, and that should equate to VIX in the 16/17s. From there.. a bounce looks highly probable.



*closing hour certainly favoured the bulls, but still... it does little to negate the repeated rally failures this week.

Today saw a lower high.. and a lower low.. and that sure ain't bullish.

... and another stomach churning week comes to a close.

Unquestionably, a week for the equity bears, despite repeated attempts by the bull maniacs to push higher.

Frankly, I'm tired.. and I shall leave it at that.

Have a good weekend

*the usual bits and pieces across the evening to wrap up the week.