Tuesday, 26 January 2016

Closing Brief

US equity indexes closed significantly higher, sp +26pts @ 1903. The two leaders - Trans/R2K, settled higher by 2.5% and 2.1% respectively. Near term outlook offers the sp'1940s before the weekend, along with VIX 20/19s. The bigger weekly cycles are still threatening 1970s by mid February... before a grander decline into the spring.



*awaiting AAPL earnings... due at 4.30pm EST

The closing hour saw renewed strength, having effectively bounced off rising trend. Its a good sign for the equity bulls into tomorrow.

So.. a day of gains.. negating most of yesterdays decline.

A straight run to the 1940s looks probable.. and that will equate to VIX back under the key 20 threshold.

At the Wednesday close, rising trend will be 1920.

Q4 GDP data this Friday won't likely be pretty... so if we're 1935/45 late Thursday, it'd be a valid excuse for a Friday cool down.

more later... on the VIX