Wednesday, 28 January 2015

Closing Brief

US equities closed significantly lower, sp -27pts @ 2002 (intra low 2001). The two leaders - Trans/R2K, settled lower by -1.4% and -1.6% respectively. Equity bears have had to battle hard to get close to the 2K threshold. Near term outlook offers a hit of the 200dma in the sp'2070s



*the closing hour sure was a stinky one for the equity bull maniacs (yours truly included).

So... a new cycle low of sp'2001, and no doubt many are going to remain gunning for the 1970s - where the 200dma is lurking, in the coming days.

I'm pretty surprised at the post FOMC weakness.. it has been a fair while since we've seen that kind of price action.

UPDATE 4.04pm..

FB earnings.... better than expected.. stock swinging a fair bit... +2%... having been -4% (mere seconds)

more later.. on the VIX