US equity indexes closed broadly weak, sp -41pts @ 1880 (intra low 1857). The two leaders - Trans/R2K, settled lower by -1.6 % and -1.7% respectively. Near term outlook is very uncertain, as there is clearly threat of a giant Tuesday gap lower to the 1750/25 zone, whilst there is upside bounce risk to the 1940/60 zone.
*closing hour action: naturally, a lot of chop
... and another week at the wildest and most twisted casino in the world comes to a close.
We've only had 9 trading days of the year, but it feels like so much has happened.
We have a truly wild and crazy year ahead.... at least to the sp'1600/1500s.... and - as I fear, a latter half hyper ramp.. possibly to new historic highs.
As I will keep saying... unless the equity bears can attain a monthly close under sp'1500, any talk of sp'1000.. or the even more crazy 500s.. remains in the realm of fantasy land.
Have a good weekend everyone :)
the usual bits and pieces across the evening.. to wrap up the day