Closing Brief

The main indexes closed largely flat, on what was a very quiet Friday. Its important to recognise that the Transports and Rus'2000 remain well above the Sept' QE highs, whilst the SP/Dow are fractionally below, with the Nasdaq trailing - no doubt held lower by AAPL.


Dow'60min

SP

Trans

Summary

Well, it sure was a tricky week, although it has to be said, the trading range was VERY narrow, from sp'1467...to 1451..and then 1472. We're only talking about 1.5% or so.

For the record, I'm still holding short, and still seeking a retracement. It had better come next week, or I'll be rather disappointed..and also a little surprised.

Have a good weekend.

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*there will be the usual big post, late Saturday, probably on the US monthly index charts