Closing Brief

US equity indexes broke new cycle lows (sp'1992, R2K 1153), closing moderately above the lows, sp' -18pts @ 2002. The two leaders - Trans/R2K, settled lower by -1.6% and -1.7% respectively. Near term outlook is uncertain.. with risk of another few days of downside to the 200dma around sp'1960.. within a broader up trend.


sp'60min

R2K'60min

Summary

* a choppy closing hour, but there is now a very viable spike floor of sp'1992, with R2K 1153.
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So... an interesting day in market land. On what was the fifth consecutive daily decline, the equity bears clearly did some technical damage today, coming within 1% of the pre-FOMC low of 1972.

Overall though... we've seen this hundreds of times... and it always ends the same way.

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The usual updates across the evening... to wrap up the day