Tuesday, 29 March 2016

Closing Brief

US equity indexes closed broadly higher, sp +17pts at 2055 (intra low 2028). The two leaders - Trans/R2K, settled higher by 1.2% and 2.7% respectively. Near term outlook increasingly threatens a turn, with first key target of the 50dma.. which will be in the 1960s across early April.



*closing hour action: a far amount of micro chop, with a new intra high of 2055.. but notably under last week's high of 2056.60.

A pretty interesting day.

Yellen sure gave a truck load of conflicting and mixed comments day. The usual fedspeak of course, trying to appear as though things are fine, whilst at the same time issueing threats of further easing.

Arguably, today was the bull maniacs last decent chance to break >2056.

.. I realise we could gap right above that overnight/tomorrow morning.... but cyclically... we're set to cool from here.

*yours truly holds short via SPY and long VIX.

more later... on the VIX