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.


sp'60min

Summary

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.
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more later.. on the VIX