Closing Brief

A pretty subdued start to the week, with the broader market closing moderately mixed. The sp'500 settled +1.4pts @ 2041. The two leaders - Trans/R2K, settled lower by -0.5% and -0.8% respectively. Near term outlook is for a retrace back under sp'2000.


sp'60min

Summary

Frankly... little to add.. on what was a pretty dull day.
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The weakness in the two leaders - Trans/R2K, is suggestive the broader market is exhausted - from last Thursday's high of sp'2046.

At best, equity bears should be able to manage a retrace into the 1980/50 zone by early December.
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*a daily wrap at 8pm EST.