Monday, 28 December 2015

Closing Brief

US equities closed moderately weak, sp -4pts @ 2056 (intra low 2044). The two leaders - Trans/R2K, settled lower by -0.7% and -0.6% respectively. Near term outlook offers the 2042/36 zone, before making a push to 2080/90 for the Thursday/year end close.



*closing hour action: a lot of very nano scale chop.. but pushing upward into the close.

So, moderate declines to begin the short 4 day week.

Price structure IS a baby BEAR flag... and I'd give a probability of around 70% that we'll briefly drop to the sp'2042/36 zone tomorrow.. before pushing back upward.

Eyes on Asia overnight. If China is lower for a fourth consecutive day... that sure won't help!

more later... on the VIX