Thursday, 16 October 2014

Closing Brief

US equities saw a very mixed day, swinging from pre-market lows of around -40pts @ sp'1822, an early afternoon peak of 1876, and settling u/c @ 1862. The two leaders - Trans/R2K, settled +1.1% and +1.2% respectively. Near term outlook is bearish into the weekend.


sp'60min


Summary

... and another wacky day comes to a close in market land.

A pretty powerful ramp from those pre-market lows, but.. with a little latter day weakness.

A marginal lower low <1820 looks very viable tomorrow.. if not early Monday. A break back into the low 1900s then looks likely.

As I will continue to note, it is at the top of the next multi-day bounce that things get real interesting.
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more later... on the VIX