Closing Brief

US equities closed with moderate gains, sp +13pts @ 1938. The two leaders - Trans/R2K, settled higher by 0.3% and 0.9% respectively. Near term outlook is for a further wave lower to the 1910/00 zone, before a more significant bounce.


sp'15min

sp'60min

Summary

In the scheme of things, a pretty quiet day.
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Mr Market appears highly vulnerable to a further wave lower - call it a fifth, E.. or whatever.. I'd be surprised if 1916 is a key floor.

Target is 1910/00... which I suppose might drag out into Thursday/Friday. First real upside bounce zone are the low 1960s, but that seems unlikely this week.

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more later... on the VIX