Friday, 23 October 2015

Closing Brief

US equities closed significantly higher for the second consecutive day, sp +22pts @ 2075 (intra high 2079). The two leaders - Trans/R2K, settled higher by 0.7% and 0.9% respectively. Near term outlook is for further upside into the next FOMC of Oct'28th, before next opportunity of an equity retrace.



*closing hour action: a touch of natural 'cash in gains' selling into the weekend

... and another week in the world's most twisted casino comes to an end.

IT was the fourth week in favour to the equity bull maniacs.

For now.. there seems zero reason to short the main market... not least ahead of the FOMC.

It has to be said, the bigger weekly cycles are offering upside of another 2-3 weeks.. and at the current rate, that will offer new historic highs in some (certainly not all) indexes, in November.

Have a good weekend

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