Closing Brief

US indexes closed the week in a poor state, sp -17pts @ 1815. The two leaders - Trans/R2K, settled lower by -0.9% and -1.4% respectively. Near term outlook is offering the 1780/60 zone by next Tue/Wednesday, which might equate to VIX in the low 20s.


sp'60min

Summary

*After a minor down cycle in the VIX, I decided to pick up 2 positions in the closing hour.

I am holding short the indexes, and long VIX, into next week. Seeking my next exit in the 1790/80s, with VIX 18/19.s
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For me, it was a VERY frustrating day. The exit at the open was good, but the market never did bounce for long, and the declines are now somewhat relentless - although, much in the style of last Friday-early Tuesday.

The weekly candles look...DIRE. Bears look sure to command next week.

Have a good weekend.
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*the weekend update will likely be on the US monthly indexes