US indexes closed higher, sp +14pts @ 1830. The two leaders - Trans/R2K, settled higher by 0.3% and 0.5% respectively. Near term outlook is for renewed weakness (barring a break >1845/50), with a primary target zone still of sp'1770/60s, with VIX in the low 20s.
sp'60min
Summary
*with some weakness to sp'1815, I decided to bail on my 3 short-market blocks, not least my day-trade block (short from 1825 to 15)..not a bad day overall.
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I had called for some 'weakness into the close', and we did indeed see a move from 1823 to 1815, but I sure didn't expect such a strong spike back to the upside.
No doubt many out there will have felt whipsawed by the closing hour price action, and frankly, I'm glad to have made a run for it (bailed on 3 short blocks around 1815/16).
The closing hour candle will surely have annoyed just about everyone. Perhaps I'm the only bear out there today who actually exited?
Tomorrow...won't be dull, but more on that later...
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more later...on the VIX.