Closing Brief

US equities saw some chop, with the sp'500 breaking a new multi-day high of 1847, only to slip lower across the afternoon, settling -12pts @ 1828. The two leaders - Trans/R2K, settled -1.3% and -1.1% respectively. Near term outlook remains broadly bullish.


sp'60min

Summary

A somewhat weak closing hour, although the declines were NOT significant. I suppose you could argue the weakness in the transports yesterday was the warning of today?
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Generally though, another somewhat tedious day, even though there we did break a new high..just 3pts shy of the January micro double top of 1850.

The big question now is...'is that it?'...or are bigger targets still in play?

I have to hold to the weekly charts, which are still outright bullish.
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More later..on the VIX
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EARNINGS update

TSLA, missed badly on rev', almost 10% lower, but profits were 'reasonable'.

Outlook is raised..and the TSLA shorts are getting cooked in AH.

TSLA - as at 4.15pm, +7.5% @ $219 (that gain includes the daily change).


4.26pm.. so far, the TSLA high is $225.00.. no doubt a lot of shorts are covering at ANY price!

As it is, TSLA remains wrapped in media hysteria, and I simply keep an eye on it for 'entertainment purposes'. I have no tolerance to trade such companies.