The main indexes closed the week on a bearish note, with the sp -7pts @ 1691. The two leaders - Trans/R2K, slipped -0.6% and -0.4% respectively. Market concern was reflected in a VIX that closed +11% in the 15.60s. Across the week, the sp' saw a moderate decline of -1.1%.
Well, another week comes to an close, and it was certainly one for the bears, but across the week, the main indexes only declined by around 1%.
With the Friday break <1691, there remains the threat of further downside to the 1680/75 zone.
Bigger weekly/monthly charts remain outright bullish though.
*I remain long the US market, am underwater, but continuing to look for much higher levels in October.
Have a good weekend everyone!
*next main post, late Saturday - on the US weekly indexes