Thursday, 24 March 2016

Closing Brief

US equity indexes closed moderately mixed, sp -0.8pts @ 2035 (intra low 2022). The two leaders - Trans/R2K, settled -0.4% and +0.3% respectively. Near term outlook threatens a bounce to the 2045/55 zone, but a break above the recent high of 2056 looks overly difficult. First soft downside target is the 1960/50 zone.



*closing hour action: micro chop, but leaning to the upside.

... and another (if short) week comes to a close.

Pretty subdued overall, and its been a fair while since we've seen any dynamic price action.

All US indexes look stuck at what are multiple aspects of resistance.

Best guess... regardless of any Mon/Tuesday upside, the market looks to have maxed out at sp'2056.

If correct, its just a matter of how many days it takes to test the 50dma/lower daily bollinger.. whether next week.. or early April.

Have a good holiday/Easter weekend!

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