Closing Brief

It was a decisively bullish close for Mr Market, with sp' clearing, and closing above the 50 day MA, settling +19pts @ 1862. The two leaders - Trans/R2K, were higher by 1.7% and 1.1% respectively. With the break of the down trend, near term outlook has turned bullish.


Sp'60min

Summary

Without question (at least to me)..we have a clear break of the down channel from sp'1897 - 1814..and we're headed back higher.

For once, I've managed to avoided getting smacked, and I will even consider picking up a moderate long-index (probably XLK), next Monday, after the 3 day weekend.

For those still holding short, as ever... I can only add, 'trading stops are useful'.
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more later..on the crushed VIX.