US equities indexes closed broadly lower, sp -20pts @ 2045. The two leaders - Trans/R2K, settled lower by -0.6% and -1.1% respectively. Near term outlook offers the 2020/15 zone - where the 200dma is lurking. Sustained price action <sp'2K and >VIX 20 looks out of range in the near term.
*closing hour action: a fair amount of chop, but leaning rather weak into the close, breaking the Friday morning low.
.. and that bodes rather well for the bears tomorrow :)
... a somewhat interesting day, but the market is still somewhat frustrating - from a bearish perspective, as we're only just beginning to see some significant downside.
All things considered, the sp'2020/15 zone, with VIX 18s, looks a realistic target.. whether tomorrow... or a little later this week.
*I remain short the sp'500, and long-VIX, and want to close out before the weekend... not least as the market will likely be somewhat choppy across the next few weeks.
On no realistic outcome does any serious downside to the mid/low sp'1900s, look viable until late April.. if not May.
more later... on the VIX