Tuesday, 22 March 2016

Closing Brief

US equity indexes closed moderately mixed, sp -1pt @ 2049. The two leaders - Trans/R2K, settled lower by -0.8% and -0.1% respectively. Near term outlook offers further upside to the sp'2060/80 zone, not least if WTIC Oil can see a brief surge to the $43/44s. In the next down wave, first soft target will be the 50dma.



Closing hour action: micro chop... offering no sign that the equity bears have any realistic hope of sustained downside until higher levels are first hit.

So.. aside from the 'news', it was a pretty subdued day, but then, with a 3 day holiday weekend ahead, that is to be expected.

Frankly, current price action remains very bullish, and for many.. it is arguably a case of 'turn ya screen off, come back next Monday'.

.. and I realise that is not what some of you want to hear.

more later... on the VIX