Thursday, 12 October 2017

Closing Brief

US equity indexes closed moderately mixed, sp -4pts at 2550. The two leaders - Trans/R2K, settled +0.6% and -0.1% respectively. Near term outlook offers basic target of the micro gap of 2540/37 before the weekend. The 2474/61 gap zone remains a technical necessity, before a more viable chance of the 2600s.



closing hour action: leaning distinctly on the weaker side, breaking a new intraday low.

Despite some weakness into the close, with the sp'500 and the Transports breaking new historic highs, it was still a day for the equity bulls.

I will continue to drone on.... 2474/61 remains a 'technical necessity'... but I am broadly bullish, and my original year end target of 2683 remains just about within reach.

Here in London...

Have a good evening
more later on the VIX and Indexes by 6pm EST