Friday, 30 October 2015

Closing Brief

US equities ended the month moderately lower, sp -10pts @ 2079 (intra high 2094). The two leaders - Trans/R2K, settled lower by -0.1% and -0.3% respectively. Near term outlook is for a natural retrace to the sp'2020/00 zone.. where there are multiple aspects of support. From there... broadly higher into year end.



*closing action.. new intraday lows.. as the sellers finally appeared....breaking the Thursday low.

.. and October comes to a close. Essentially, all indexes proceeded straight up.. resulting in rather extreme net monthly gains.

Best guess remains.. a moderate retrace to around sp'2020/00 zone.. by mid November. Broadly.. the bigger bearish scenario is off the table.

Have a good weekend.

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