Monday, 22 September 2014

Closing Brief

US equities saw some notable weakness, with the sp'500 settling -16pts @1994. The two leaders - Trans/R2K, closed by a significant -1.4% and -1.5% respectively. Near term outlook is for rising support @ 1990 to hold, with renewed upside.


sp'60min


Summary

A somewhat tiresome start to the week, not least for those who were holding long across the weekend.

Certainly, paired with the Friday drop, this is the biggest 2 day decline since early August. Yet.. in the scheme of things... since we were breaking new historic highs a mere one trading day ago, equity bears really need to keep things in perspective.

The broader trend remains to the upside.
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more later.. on the VIX
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For the Volcano doomers out there, just found a new live stream...


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