Friday, 26 September 2014

Closing Brief

US equities closed moderately higher, sp +16pts @ 1982. The two leaders - Trans/R2K, settled higher by 1.2% and 0.8% respectively. Near term outlook is for renewed downside, breaking the Thursday low of 1965, with first target zone of 1950/40s.



...and another week in market town comes to a close.

Certainly, no one can say this week was boring. We've seen continued weakness from the Alibaba high of sp'2019.. down to 1965... with an end week bounce to 1986.. but cooling a little into the close.

*I am holding short across the weekend, seeking 1950/40s... with a 'best bear case' target zone of 1920/00.

Have a good weekend everyone.
more later... on the VIX