Closing Brief

US equities closed moderately higher, sp +12pts @ 1946. The two leaders - Trans/R2K, settled higher by 0.7% and 0.8% respectively. Near term outlook is for a break through the 50 day MA of 1955.. which will open up the 1965/70 zone by the Friday close.


sp'60min

Summary

*price structure on the hourly chart is a baby bull flag (not labelled). Market looks set to cruise higher across tomorrow morning.
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So.. the third net gain of the last four days... not too bad a performance from the bull maniacs.

Certainly, the bigger daily/weekly cycles are offering the low 2000s within the next week or two. Although, I'd guess that giant threshold won't be hit until September.

*I hold LONG overnight...seeking an exit 1955/60..tomorrow.
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more later.. on the VIX