Closing Brief

The main indexes closed with moderate gains, after virtually zero price action from mid morning. This was day'9 of an up wave from sp'1627. With the Nasdaq already breaking new highs, the equity bears are again feeling the pain. VIX not surprisingly, melted lower into the close, -7%


sp'60min

Summary

*naturally, the market breaks new highs in the closing seconds.
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A pretty dull day, opening gains...and then effectively flat-lining in the low 1680s for the entire day.

For the bulls though, this is exactly the sort of action we've seen so much of across the last few years.

The question for everyone tonight...was this a simple double gap fill (1650s and 1680s)...or was 1627 a key low..and we're now set for many weeks...or months of ramp?

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*I remain long-VIX, but will look for an exit, if sp'1690s..and if price action still offers no sign of an equity downside turn.
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The usual bits and pieces across the evening...