Closing Brief

The market saw yet another day of weakness, one where a series of intra-day rallies failed to hold. The closing hour was especially weak, and we could very easily open at my primary target of sp'1345 tomorrow morning. Even the VIX started to show some strength in the latter half of the day.


sp'60min

Trans

Summary

A tiresome day, one where the market teased with a micro-rally on three occasions, but it could never hold.

A very weak afternoon, and the primary target of sp'1345/40 looks set to be hit early tomorrow.
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I'm all cash (to my own annoyance). If we gap open lower @ 1345/40 tomorrow morning, I will be tempted to go long, but I can only imagine that would tempt the trading gods to crash this market straight down to sp'1200.

For me, this all remains a complete waste of time..and even money. I hope the rest of you are doing infinately better.