Thursday, 26 February 2015

Closing Brief

US equities closed moderately mixed, sp -3pts @ 2110. The two leaders - Trans/R2K, settled -0.5% and +0.3% respectively. Near term outlook still offers a minor retrace, but downside now looks limited to around sp'2065.. which will likely equate to VIX in the 17/19 zone.




... a rather disappointing end to the day for those in bear land. The sp'2100 threshold continues to hold, and thus there is no clarity that even a minor retrace is underway.

Each day of chop means the downside target will be raised.. and right now.. that would be the sp'2060s.

Have a good evening

Daily wrap at 8pm EST.