Closing Brief

US equities closed with somewhat significant gains, sp +19pts @ 2021 (intra low 1989). The two leaders - Trans/R2K, settled higher by 0.6% and 1.3% respectively. Near term outlook is uncertain, with threat of a hit of the 200dma of sp'1973... before renewed upside.


sp'60min

Summary

*the last two hours of the trading day were somewhat of a mirror to yesterday afternoon. The break to sp'2024 is arguably a test of the declining resistance.
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A relatively tedious day.. were it not for the free entertainment provided via the precious metals market.

All things considered, it remains something of a mess. Are the bulls going to be able to rally on GDP/PMI data into the sp'2030/40s... or will a renewed down wave take us to the 1970s?

Friday will not be dull !

Have a good evening
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more later.. on the VIX