Tuesday, 16 April 2013

Closing Brief

The main indexes closed significantly higher, with the market leaders - Transports and R2K higher by 2.0 and 1.5% respectively. VIX closed sharply lower, -19% in the 13s. The metals and Oil maintained moderate gains. USD was very weak, -0.8%



Clearly, a disappointing end to the day for the bears.

I'm really not sure what to make of this afternoons continued rally. Its kinda surprising we managed to hit the mid 1560s, never mind the 1570s!

Was today really a sub'2 wave, with a big 3 down across Wed/Thursday?

Considering that we still holding under the critical 1580 level, I will still hold that today was sub'4, with a final move into the sp'1540s tomorrow - even though that now looks too far for a sub'5

*Regardless, I hold short overnight, but its now an annoying underwater position, and even the sp'1550s look a long way down.

The usual bits and pieces across the evening.