Wednesday, 4 December 2013

Closing Brief

The main indexes saw some interesting weakness, but clawed higher in the closing hour, with the sp' settling -2pts @ 1792. The two leaders - Trans/R2K, closed -0.4% and -0.2% respectively. Near term outlook is choppy, but with broader upside into end year/early 2014.



A pretty interesting day to watch. Bears saw a new low of 1779, and bulls at least are still comfortably holding the 1770s.

Right now, the notion of anything <1770 still looks unlikely.

Broader trend remains very much to the upside, and the bigger monthly charts offer dow 16500, with sp'1840s.

more later..on the VIX