Wednesday, 4 November 2015

Closing Brief

US equity indexes closed moderately weak, sp -7pts @ 2102 (intra low 2096). The two leaders - Trans/R2K, settled lower by -0.6% and -0.1% respectively. Near term outlook offers a cycle high of 2116, with first downside target of the 200dma (2060s), and secondary of the 2020s.



*closing hour action: micro chop... leaning on the downside.

Certainly, a far more interesting day than yesterday, with the first opportunity of sig' downside this coming Friday.

A weekly close in the 2060/50s, along with VIX 18/20, would offer hope of a retrace that will last a good 7-8 days.

On no realistic outlook though does sustained action look viable under the giant sp'2K threshold.

Awaiting earnings from FB, QCOM, and WFM

more later... on the VIX