Thursday, 4 February 2016

Closing Brief

US equity indexes closed broadly higher, sp +2pts @ 1915 (intra high 1927). The two leaders - Trans/R2K, settled higher by 3.2% and 0.4% respectively. Near term outlook offers renewed upside, with high threat of the 1960/80 zone. The recent key low of 1812 is likely to hold until at least mid March.



*closing hour action: micro chop.. leaning on the upside.. as no doubt some bears were covering ahead of the jobs data.

After a few morning swings, it was a very subdued end to the day.

The gains in the Transports I've admittedly not noticed until the close. Broadly though, price structure remains a big bear flag.

more later.. on the VIX