Tuesday, 19 April 2016

Closing Brief

US equity indexes closed moderately mixed, sp +6pts @ 2100 (new cycle high 2104). The two leaders - Trans/R2K, settled 1.3% and 0.1% respectively. Near term outlook offers a break of short term rising trend/support, a move <2090 will open up the gap zone 2065/61 by the Friday close.



closing hour action: minor chop around the sp'2100 threshold.

Well, it was not the kind of weakness (even moderate) that I was seeking.. but then, with new cycle highs, it was always going to be another day for the equity bulls.

To me, its merely a case of whether we can see some weakness across the next 3 days... and attain a weekly close in the 2060s.

If that is the case.. then there is still a chance for the bears to close the month on a somewhat negative note.

yours... (overly?) resilient.

more later... on the VIX