Closing Brief

The main indexes generally closed moderately lower, with the sp -3pts @ 1722. The two leaders - Trans/R2K, closed +0.3% and -0.2% respectively. Precious metals closed a touch higher, whilst Oil slipped around 1.6%. Despite lower equities, VIX still closed moderately lower.


sp'60min

Summary

A much quieter day after the drama of the FOMC.

What is bemusing to see are bears calling for a major reversal from here. Why would we reverse, one day after a major breakout?

I have to follow the bigger weekly trends, which are still outright bullish.
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*I remain on the sidelines, but will consider an index long in the sp'1714/12 zone, if the price action looks okay. Broad upside into the 1730s looks very likely next week.
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The usual bits and pieces across the evening.