Thursday, 21 January 2016

Closing Brief

US equity indexes closed moderately mixed, sp +9pts at 1868 (intra range 1889/48). The two leaders - Trans/R2K, settled +1.0% and -0.2% respectively. Near term outlook is bullish, as the sp'1812 low looks set to hold for some weeks. Regardless of a bounce into February, the broader downside target remains unchanged.



*closing hour action: a little weakness, but holding the hourly 10MA

Little to add, from what I've babbling about across today.

It does seem we have a short term floor, but clearly, price action remains very twitchy.

Sustained action >1900 seems more viable after Yellen appears.

more later... on the VIX