Closing Brief

It was a day of consolidation for US equities, with the sp -0.1pts @ 1873, having fractionally broken a new high of 1876.53. The two leaders - Trans/R2K, settled +0.3% and -0.2% respectively.  Near term outlook remains broadly bullish, into the 1880/1920 zone by the next FOMC.


sp'60min

Summary

A pretty quiet day, and there really isn't much to add.

I see a few people trying to short the market, trying to trade a minor retracement, but really, that doesn't make any sense to me. Overly risky, not least whilst the big monthly cycle is offering 1930s this month!

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more later..on the VIX