Closing Brief

Equities saw a somewhat significant afternoon reversal, with the sp -5pts at 1866. The two leaders - Trans/R2K, settled -0.4% and -0.5% respectively. Near term outlook is mixed, with the weekly charts back to bullish, whilst the smaller cycles are suggestive of weakness next Monday.


sp'60min

 

Summary

*I exited a small SPY put block in the closing 10 minutes (fractional loss), but remain HEAVY short the indexes, via SDS
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..and another week at the world's most twisted casino comes to an end.

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What to make of this week?

Bulls can tout a fractional new high in sp'500, with a notable swift claw back of half the declines from the FOMC snap lower to 1850.

Bears,  the Friday reversal is kinda interesting, but unless we see a break <1850 early next week, it counts for nothing.
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I appreciate all those who did say hello this week, it makes a real difference, and I do like to be challenged, especially if I'm in a particularly bearish mood ;)

Have a good weekend everyone!
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*the weekend update with be on the US weekly indexes