Friday, 19 October 2012

Closing Brief

The broad market saw significant losses, although the closing hour was not such a great end for the bears. The soft support of sp'1430 - and Nasdaq' 3000..held.  VIX similarly closed well off the highs, with a gain of around 12%, to close in the high 16s






If you'd offered any bear pre-market, declines of today's size, they'd have been delighted. Yet, here we are..and its somewhat disappointing (to me at least). The Monday low of sp'1427 is still intact, and until we take that out, the bulls remain in control.

The one really bearish aspect are the weekly charts - and I'll cover those over the weekend.

Have a good weekend!

*More later in the evening though...with the closing updates for the usual stuff.