Friday 16 January 2015

Closing Brief

US equities closed significantly higher, sp +26pts @ 2019. The two leaders - Trans/R2K, settled higher by 1.2% and 1.9% respectively. With the closing hour strength, the viability of a hit of the 200dma has greatly decreased. In any case... broader upside... once the ECB announce QE.


sp'60min


Summary

... and another week in market land comes to a close.

Congrats to all those who didn't get blown up by the FX changes!
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The closing hour was a major disappointment, and clearly, a fair few bears were either short-stopped out, or simply closed out for the long weekend.

The chance of renewed downside to sp'1965... is much reduced.
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Have a good.... THREE day weekend :)

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*the usual bits and pieces across the evening.. to wrap up the week