Thursday, 15 October 2015

Closing Brief

US equity indexes closed significantly higher, sp +29pts @ 2023. The two leaders - Trans/R2K, settled higher by 1.4% and 2.3% respectively. Near term outlook offers the 2030/40s, with the 2050/60s in FOMC week (Oct 26th>).



*closing hour action: further gains... new highs.. absolutely nothing for the equity bears to be pleased about.

So... we have a retrace from 2022 to 1990.. and now we're breaking new cycle highs (from the sp'1871 low).

For now... equity bears have little reason to be getting involved as there is open air to the 2040/60 zone.. and the upper end of that looks out of range for another 7-8 trading days.

There is no hurry.

more later.. on the VIX