Closing Brief

US equity indexes closed moderately higher, sp +14pts @ 1998 (intra high 2002). The two leaders - Trans/R2K, settled higher by 0.6% and 0.4% respectively. With the break of trend/resistance, the market looks set for broad upside into next week.


sp'60min

Summary

We opened a little lower, but right from the start, the VIX started to cool - with the candle turning black..and the equity indexes started to claw higher - with hollow red reversal AND spike-floor candles.

There were certainly a lot of things working against the bears today.. even from a pure cyclical basis, the hourly MACD cycle was battling higher.
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All things considered, perhaps a minor snap tomorrow - whether on the FOMC announcement or after the Yellen press conference. Regardless, the recent low of sp'1978 should comfortably hold.

I won't be short until we're at least in the 2030/50 zone. Further, I will consider adding another long-index block.. on any pull back.. whether tomorrow.. or later in the week.
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more later... on the VIX