Closing Brief

The main indexes closed moderately higher, with the sp +5pts @ 1761. The two leaders - Trans/R2K, closed +1.0% and -0.4% respectively. Near term trend remains somewhat weak, but there is huge underlying upside pressure into year end.


sp'60min

Summary

For the equity bears, even the closing hour of today was another disappointment.

I am certainly surprised that the market didn't at least close slightly lower. However, with the two leaders still somewhat weak (although Transports pulled a 1% gain in the late afternoon), I'd still expect some weakness next week, but it will be damn difficult - since next week is HEAVY Qe-pomo.

Have a good weekend
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*next main post, late Saturday, on the World Monthly Indexes
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closing video update from the PIT...


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