Wednesday, 1 May 2013

Closing Brief

The main indexes all closed lower, lead by the Transports and Rus'2000, which both fell by around 2.3%. The sp' decline of 0.9% was 'interesting', but bears clearly to push a bit lower before there can be any confidence. VIX spiked a little into the close, into the 14.50s



With the FOMC out of the way, things just got a lot simpler for those in bear land.

First target is a daily close <1570, and that will open up a challenge of the 1536 low from a few weeks ago.

more later....