It was a second day of weakness for US equities, with sp' flooring at 1916, and settling -5pts @ 1925. The two leaders - Trans/R2K, settled -0.2% and -0.5% respectively. Near term outlook offers the sp'1955/65 zone.. before more significant downside.
*a moderately weak closing hour, but still 9pts above the earlier low.
...and a rather important trading week comes to a close.
Without question... after four weeks of chop.. yesterdays break below 1960 was a rather key trend change.
The big issue now is whether the market will get stuck in the 1955/65 zone... and then rollover to break <1900, or whether we are yet to break the giant 2000 threshold.
Considering yesterdays price action...I'm guessing we will get stuck.. and roll lower.
Have a good weekend everyone.
more later... on the VIX
the weekend update will be on the World monthly indexes