Tuesday, 21 October 2014

Closing Brief

US equities closed higher for the fourth consecutive day, sp +37pts @ 1941 (intra high 1942). The two leaders - Trans/R2K, settled significantly higher by 3.1% and 1.6% respectively. Near term outlook is bullish to the sp'1950/60s.



Unquestionably, another day for the equity bulls, and we're already getting close to levels where even the most diehard bears are going to need to be ready to wave a giant white flag.

There are many aspects of resistance in the 1960s, and (at least to me), any daily closes in the 1970s would negate the idea of a bigger bearish correction before year end.

more later.. on the VIX