Closing Brief

It appears that the floor was sp'1333.25, at least until tomorrow! Its a level that a fair few out there were noting in recent days, and its certainly at the key target zone I was looking for.

Bears failed to break and close decisively under 1330. That is not to say we can't just gap lower tomorrow morning, but...bears best chance was today..and they did not do it.

The closing hourly index cycles...


IWM

Dow

Sp

Summary

The closing hour micro-ramp was indeed something I had feared - even though we did see an initial sell off after the FOMC minutes. VIX confirmed the market recovery.

Bulls now need to seek 1350/55 tomorrow.

*as things currently stand, so long as we don't break 1330, I'm inclined to believe we see a multi-day bounce/final minor wave, up to 1375/90. I suppose that could take us into the middle of next week.

More across the evening