Tuesday, 30 September 2014

Closing Brief

US equities saw some real chop across the day, sp'500 settling -5pts @ 1972 (intra range 1968/85). The two leaders - Trans/R2K, settled lower by -0.5% and -1.4% respectively. Near term outlook is mixed.



More than anything, today was the second day of FAIL for the equity bears. A little weakness in the early morning...only for the market to ramp to 1985.

Even the latter day decline to 1969 was somewhat understandable, with the usual 'end month/quarter' issues.

*I am on the sidelines, having bailed from a short-index, @ sp'1972.

more later... on the VIX