Closing Brief

It was a choppy day for the US equity market, with the sp' settling -3pts @ 1751. The two leaders - Trans/R2K, both closed -0.8%. There looks to be high probability of a further strong wave lower in the remainder of the week. Primary target zone remains 1710/1690.


sp'60min

Summary

*awaiting earnings from TWTR
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The important thing to take away from today...a lower low..sp'1737. We had another instance where the market tried to vainly rally on 'better than expected' news (in this case, ISM non-manu), but quickly failed.

The Friday jobs data will be...decisive. Considering the bigger daily/weekly cycles..along with the style of recent price action, I'm holding to the original target zone of 1710/1690.
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more later..on the VIX

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4.08pm... TWTR earnings, 2 cent EPS, vs expected loss of 2 cents..hmm

Stock spikes to the $71s..but then flips marginally negative.....now -6%

...market...as I thought is selling the stock lower...even though the earnings were 'better than expected'.

currently -11%...at the lower end of my target range

Ohh the hilarity