Monday, 28 July 2014

Closing Brief

US equities started the day weak, but ended the day with fractional gains, sp +0.5pts @ 1978. The two leaders - Trans/R2K, settled lower by -1.1% and 0.4% respectively. Near term outlook is for minor churn... before a rather important Wednesday.



*VIX closed fractionally red, and certainly shouldn't inspire the equity bears.

So..a broadly flat close for the sp'500, not exactly surprising.

The one concern for the bulls should be the R2K, but even that lagging index is 5% above critical support. R2K 1080 would probably equate to sp'1900.. and I sure don't expect either of those to be hit in the near term.

more later.. on the VIX