Closing Brief

The main indexes strongly recovered from opening declines of almost 1%, with the sp +7pts @ 1710. Near term trend is very much back to the upside. The two leaders - Trans/R2K, closed +0.1% and +0.5% respectively. Mr Market has little real fear of an actual US debt default.


sp'60min

Summary

For the bears, a truly lousy and disappointing day. For those buying the opening drop...(which I guess would include Mr Carboni and his legion of followers)...congrats.

*having watched a lot of Bloomberg TV today, it remains laughable how even they are playing the 'doomsday' debt ceiling game.

It is merely a game to the political and financial elite in Washington and NYC.

There will be no default.
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more later, on the VIX