Wednesday, 6 November 2013

Closing Brief

The main indexes closed rather mixed, with the Dow leading, +128pts @ 15746, whilst the Nasdaq closed -0.2%. The two leaders - Trans/R2K, closed moderately lower, -0.7% and -0.45% respectively. Near term market outlook is for more minor chop/consolidation.



What to say about today?

Without getting wrapped up in the minor noise..the underlying upside pressure is clearly still the especially seen in the Dow.

As I noted a few times over the past few weeks, equity bulls need to see Dow 15800s to be sure of further upside into spring 2014. We're a mere 0.3% from that target.

more later on the VIX