US equities closed moderately mixed, sp' u/c @ 2047 (intra range 2060/34). The two leaders - Trans/R2K, settled higher by 0.3% and 0.5% respectively. With the break of core support, near term outlook offers at least 2000/1990s, with a H/S scenario offering 1970/60s... certainly by end month.
*closing hour action: some pretty strong swings (relative to what we normally get)... but holding above the 2pm hour low of sp'2034.
So... opening weakness.. a ramp into the FOMC minutes.. but then upset at the overt threat of a June rate hike.
Yes.. we closed above the sp'2039 low.. but the floor IS broken.
The spike on the bigger daily candle is very bearish, and bodes for a near term decline of 2% (at min)... to 4%.
In the grand scheme of things.. its all still pretty small moves, but it won't be that way forever, as the summer proceeds.
more later... on the VIX