Closing Brief

It was a choppy day for the US indexes, but with underlying upward 'bounce' pressure, sp +10pts @ 1792. The two leaders - Trans/R2K, settled higher by 1.1% and 0.9% respectively. There is near term upside to 1810/15...before the down trend will likely resume.


sp'60min

Summary

So..what to make of today?

Is that it for the downside? Considering the price action of Friday, the VIX surge into the upper 18s..and the apparent double micro-top of sp'1850...I have to think there is more downside to come...after the current bounce completes.

It will be important for the bears to appear again..before this week concludes.

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Video update from Oscar (yeah..weird time for an update)



Not surprisingly..Oscar is looking for upside. I'd only be concerned if we get a daily close in the sp'1820s.
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the usual bits and pieces across the evening...although its only Tuesday, and I'm starting to get tired..urghhh