Monday, 3 June 2013

Closing Brief

The market saw a choppy day to begin the week, with the main indexes all closing with moderate gains. The sp' close of 1640 opens up an attempt to break descending triangle resistance in the upper 1640s tomorrow. With fear of equity downside lessening, the VIX closed a touch lower.



So..the market ramps into the close, and the bulls will now be seeking a daily close >1650.

The big issue is whether 1687 will be taken out in the new up cycle. I'm guessing...yes, but as ever.. good trading stops will be vital.

*a good trading day in the permabear bunker. A fast 9min morning trade in IWM, and RIG closes the day pretty well.

bits and pieces across the evening.