Closing Brief

US indexes closed weak, after opening moderate gains. The sp' swung from 1875, to settle -13pts @ 1852. The two leaders - Trans/R2K, settled sharply lower by -1.6% and -1.9% respectively. Near term outlook remains somewhat borderline, with strong support in the 1845/35 zone.


sp'60min

Summary

*a pretty weak closing hour, which certainly helps set up a bearish Thursday - although I remain concerned at another sig' QE-pomo.
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So.. a close in the sp'1850s...and the morning high of sp'1875 now looks a fair way up.

A good little victory for the bears, and the only issue now is whether we can break <1830...which will open up a free ride to 1800/1790 next week.
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more later..on the VIX