Friday, 8 January 2016

Closing Brief

US equities closed lower for the fourth of five days this week, sp -21pts @ 1922 (intra range 1960/18). The two leaders - Trans/R2K, settled lower by -0.7% and -1.7% respectively. Near term outlook offers serious threat of a Monday gap lower <1900..  but with increasing threat of a short term floor.



*closing hour action: TRAINWRECK, an absolute classic instance of the 'rats selling into the weekend'.

.. and that.. dear readers.. is how you start a trading year.

One hell of a week... confirming what we saw for the December/yearly close.

The market is headed broadly lower in the weeks and months ahead.. probably to the sp'1600s or so.

Have a good weekend everyone

**I hold short, via TVIX-long, across the weekend

*the usual bits and pieces across the evening to wrap up the week