Wednesday, 21 October 2015

Closing Brief

US equity indexes closed moderately weak, sp -11pts @ 2018 (intra high 2037). The two leaders - Trans/R2K, settled lower by -0.5% and -1.6% respectively. Near term outlook is for further equity upside, with all indexes set to test their respective 200dmas.



*closing hour: some distinct weakness into the close... but still.. nothing significant.

So... another broad day of chop.

No doubt some will be getting overly excited at the net daily declines, but then... most of those same people have been holding short from the sp'1900/50 zone.

For the moment I can't take any of the sporadic down waves seriously.

Lets see how China trades overnight.. and how the EU market reacts to the ECB tomorrow.

more later... on the VIX