Closing Brief

The main indexes saw a very significant secondary wave lower in the late afternoon, with the sp -23pts @ 1630. The VIX battled higher, closing +12% @ 16.30. Oil fell almost 2%, with similar weakness in the precious metals. A pretty exciting closing hour to end the month!


sp'60min

VIX'60min

Summary

Certainly, not the end to the week that the bulls were seeking, but it was end month, and there was an awful lot of index re-balancing, along with month-end issues.
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I certainly don't see any threat to the broader up trends. Nothing has changed. QE continues, and the daily charts are now due a cycle to the upside.


*I hold a small long position - via RIG, across the weekend.

Have a good weekend!
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*next main post, late Saturday, on the World monthly indexes.