Monday, 17 March 2014

Closing Brief

US equities closed with broad gains, sp +17pts @ 1858. The two leaders - Trans/R2K, settled higher by 0.9% and 0.6% respectively. Near term outlook is for continued minor upside, into the sp'1870s, before a sharp wave lower into end month.



So..the bulls start the week pretty strongly, but by the end of this week, I'd not be surprised if we are testing the key low of sp'1834.

As I noted at the weekend, after a provisional turn last week, the bears now just need a weekly close <1830. That doesn't have to be this week, next week would be just fine too. So long as we don't break a new high >1883, bears have little to be concerned about.

Everyone is getting increasingly twitchy..this week should be a good one ;)

more later..on the VIX.