Closing Brief

After a touch of early morning weakness, US equities floored at sp'1824, and battled back into the 1840s, sp' settling +11pts @ 1839. The two leaders - Trans/R2K, closed higher by 1.6% and 1.1% respectively. New highs look viable in the days ahead.


sp'60min

Summary

For those bears who were getting overly excited at the Wednesday closing hour, today was indeed another disappointment.

Equity bears failed to see a second down day, and frankly...I sure am not surprised. The setup was always lousy, and despite breaking (briefly) 1826...we saw a classic reversal candle in the 10am hour.

I'm holding to the general outlook of broader upside into the next FOMC of March'19. From there...things should get real 'entertaining'.

We're almost there bears!
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more later..on the VIX


4.24pm  EARNINGS UPDATE..

For those watching..some rather crazy action in GRPN. Earnings were better than expected, with the stock soaring..but has seen a very sharp reversal, from +11% to -7% or so.

Those crazy hysteria tech stocks....urghhh.
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