Closing Brief

The market closed moderately lower across all the indexes, and was once again lead lower by the transports, which was the first to break the rising lower channel/trend. With the VIX 4% higher, the near term trend for the indexes looks very much to the downside.


Dow

Sp

Trans

Summary

I'm very pleased with how today has gone. We have a very clear spike at the open, and it would make for a great cycle top - in the immediate term, at the very least.

The aim for the bears tomorrow should be to puncture the sp'1400 line, a break of that should open up a fast move to around sp'1390/85 - no later than lunchtime Wednesday.
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The usual bits and pieces across the evening.