Wednesday, 18 February 2015

Closing Brief

US equities closed moderately mixed, sp -0.7pts @ 2099. The two leaders - Trans/R2K, settled higher by 0.4% and 0.2% respectively. Near term outlook remains uncertain whilst the Greek situation remains unresolved, there is reasonable opportunity for a minor retrace to the 50dma in the sp'2045/50 zone.



*a closing hour of minor chop... seems we get selling around the sp'2100 threshold.. although not surprising after a 6% ramp from sp'1980.

Another pretty dull day in market land.

Underlying pressure is clearly still to the upside, and the level of market confidence remains incredibly high.. despite the unresolved Greek situation.

Overall, I think we're due a retrace to the 50dma... with Greece being used an excuse.

A daily wrap at 8pm EST.