Closing Brief

US equities closed higher, with the sp +14pts @ 1872. The two leaders - Trans/R2K, saw much more significant gains, settling +1.7% and +1.8% respectively. Despite the Monday gains, it remains a borderline situation, bulls need >1883, whilst bears need <1834.


sp'60min

Summary

*minor weak chop in the closing hour, but nothing for the equity bears to get overly excited about.
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..and that is a wrap for Q1. Certainly, the bulls remain in broad control, but we remain a tight range that is now four weeks old.

Clearly, if we break >1883..we'll battle considerably higher. Similarly...a break <1834..will open up the 1800/1790 zone.

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more later...on the VIX