Thursday, 22 October 2015

Closing Brief

US equities closed significantly higher, sp +33pts @ 2052. The two leaders - Trans/R2K, settled higher by 1.5% and 0.8% respectively. Near term outlook is for continued upside into the next FOMC (Oct 28th)... and if the market likes what the Fed has to say... a straight run to the sp'2100s.



Unquestionably.. a day for the equity bulls, as the market negated yesterday afternoon's nonsense.

Far from the rally running out of steam... price momentum is INCREASINGLY favour the bulls with each day.

For now.. this is absolutely no market to be short.

*earnings due from AMZN.

4.24pm.. Earnings from AMZN, GOOGL, MSFT have all greatly pleased the market.

The sp'2060s look due tomorrow... with a viable weekly close within the sp'2065/75 zone.. and that would kill any remaining hope of a broader bearish scenario into end year.

Sp +9pts in AH.... equiv' to 2061... breaking the 200dma.

more later... on the VIX