Closing Brief

A second consecutive daily decline for the main indexes. The declines were only minor, but they have helped produce a clear rollover on the daily charts. First initial target zone remains 1440/35, although 1425 remain possible, especially if VIX can spike into the low 16s.


Dow'60min

SP'60min

Trans'60min

Summary

The day went broadly as expected, and for the bears, the key issue is that we didn't break the recent high of sp'1467.

What still seems VERY unlikely, is a break <1415, never mind the even more critical 1398 low.
Bears had their chance - with VIX 22/23..and they failed.

--
As at 3.30pm, I am short from sp'1457, I'll be content with an initial exit @ 1445/40, whether that's tomorrow or Thursday.

*please be clear, I am still holding to a significant move higher into the sp'1500s in Feb/March.

The usual bits and pieces across the evening.