Wednesday 12 February 2014

Closing Brief

US equities broke a new high in the early morning (sp'1823), but saw increasing weakness into the late afternoon, sp -0.5pts @ 1819. The two leaders - Trans/R2K, settled higher by 0.1% and 0.3% respectively. Near term outlook is for a minor retracement to the 1800/1780 zone.


sp'60min


Summary

*moderate weakness into the close.

Awaiting earnings from CSCO
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So.. we did break a new cycle high of 1826, but that now looks like a near term top, at least for the remainder of this week

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more later...on the VIX