Closing Brief

The main indexes saw mixed chop across the day, but with underlying strength still pretty clear, sp +1pt @ 1844.  The two leaders - Trans/R2K, again broke new historic highs, settling higher by 1.0% and 0.5% respectively. Upside into the FOMC remains the outlook.


sp'60min

Summary

*earnings due at the close: EBAY, NFLX, both will be interesting to watch
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So...another day of price chop, although the two leaders - Trans/R2K, broke new historic highs.

Nothing has changed in the broader outlook, and daily MACD cycles look floored, We're due a good 3-5 days higher..possibly more if the market can cope with the next FOMC announcement.

more later...on the VIX

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NFLX earnings...pretty good, stock snaps...+$60 to the $390s

NFLX shorts..getting nuked
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4.24pm....EBAY....similarly snaps to the upside.. +10% in the low $60s.

I wonder how many bears were short both NFLX and EBAY ?  What a thought, urghhhh!