Monday, 4 April 2016

Closing Brief

US equity indexes closed moderately weak, sp -6pts @ 2066 (intra high 2074). The two leaders - Trans/R2K, settled lower by -0.9% and -0.8% respectively. Near term outlook offers the sp'2020/15 zone... once rising trend/support (sp'2055 at the Tuesday open) has been broken.



*closing hour action: a little chop, and leaning on the downside.

Little to add.. on what was a pretty tedious day.

Rising trend is clearly still intact... but once broken... equity bears should see at least see 3-4 days lower. The only issue is whether we can briefly trade under the 2K threshold in what is a long overdue retrace.

yours... trying to be patient.

more later... on the VIX