Closing Brief

Another day in market land where the bulls took control, held on tight, and again laughed into the faces of those few still resolutely holding short. New index highs are seemingly now very likely across the next few days.


IWM'60min

SP'60min

Trans

Summary

A pretty clear victory for the bulls, the only issue is that the Rus'2000 is lagging behind. The transports of course remains in a world of its own, trading almost back at the equivalent of the June sp'1266 low.

For those holding short into Friday, they had better hope the jobs data comes in much lower than expected, otherwise we'll very likely test the QE3 spike high of sp'1474.

More later