Tuesday, 15 March 2016

Closing Brief

US equity indexes closed broadly weak, sp -3pts @ 2015. The two leaders - Trans/R2K, settled lower by -0.6% and -1.6% respectively. Near term outlook offers another push higher.. but then maxing out, before cooling across the latter half of the month.



*closing hour action: as has been the case for the last month... a lot of micro chop, but leaning higher into the close.

Earlier today I noted I was hoping for a close in the sp'2010/15 zone, to help keep within range the upside gap of 2038/43. 

... so I'm kinda very content with today's close.

Now its a case of waiting to see how the market reacts to the 2pm press release. Certainly, once the FOMC is out of the way, the window is wide open to the bears for the rest of the month.

Today's closing movie was...

.... Butch Casiddy and the Sundance Kid, what an incredible ending!

more later... on the VIX