Closing Brief

US equity indexes all closed somewhat lower, sp -8pts @ 1888. The two leaders - Trans/R2K, settled lower by -0.9% and -1.6% respectively. Near term price structure is offering a bull flag, with further moderate upside likely - as supported on the bigger weekly/monthly cycles.


sp'60min

Summary

There really isn't much to add, on what was a pretty tiresome day of micro chop. Even the late afternoon weakness was relatively minor (for most indexes), and considering the recent historic highs, this is a very natural retrace.

Sure, the R2K/Nasdaq were especially weak, but what is surprising about that?

There is an array of econ-data tomorrow morning, and we've opex on Friday..so..the remainder of the week should be increasingly dynamic.

*I hold moderately long overnight, will be seeking an exit into the Friday close.
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more later on the VIX