Tuesday, 27 October 2015

Closing Brief

US equities closed broadly weak, sp -5pts @ 2065. The two leaders - Trans/R2K, settled lower by -2.6% and -1.2% respectively. Near term outlook is for renewed upside to the 2080/90s.. not least if the market can cope with a dull FOMC announcement and somewhat mediocre Q3 GDP data.



*awaiting earnings from AAPL and TWTR

To be clear... I don't see the Friday high of sp'2079 as a short term top.

Another push higher looks due.. and the market will probably try to use the FOMC tomorrow afternoon as an excuse to battle into the sp'2080s.

more later... on the VIX