Closing Brief

The market opened a touch lower to sp'1608, and the critical 1598 was not broken. Just like last Thursday, the market held together, and then consistently climbed into the close. Near term trend looks strong into early next week. The VIX strongly confirmed the equity gains. -11%


sp'60min

Summary

Well, last night was rough for those on the long side..and filled with some excitement for those looking for a major break <1598.

Yet again though, the bulls have managed to avert a minor disaster, and instead, we're now looking at taking out the recent sp'1648 high by Friday/early next week. Incredible.
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*I am very pleased to be out of my heavy index-long position, I'll sleep better for it! Holding MRO (long) into Friday..and probably early next week.

I will also look to pick up a new..smaller index-long position on the next minor down cycle.
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bits and pieces across the evening