Wednesday, 10 September 2014

Closing Brief

US equities closed a little higher, sp +7pts @ 1995. The two leaders - Trans/R2K, settled +0.1% and +0.6% respectively. Near term outlook offers the low sp'1970s, with VIX 15s... before new highs later in the month.




*price structure on the 15min cycle shows the baby bull flag, which break upward in the closing hour.

Overall, yet another choppy day, although yes.. we did break a slightly lower low of sp'1982.

All things considered, I'd still guess we eventually floor in the low sp'1970s, where there are many aspects of support.

meanwhile... over at Mt Doom (Iceland)

Continued sig' quakes in the 5s at Bardarbunga, and the caldera continues to sink.. a major explosion seems very likely. As ever, that event could be hours... or months away. Volcanoes are even harder to predict that the equity indexes!

more later.. on the VIX