Closing Brief

US equities saw a second day of gains, sp +29pts @ 2050. The two leaders - Trans/R2K, settled higher by a rather significant 1.5% and 1.8% respectively. Near term outlook remains highly uncertain, whilst market remains under key resistance of 2064.


sp'60min

Summary

*another strong closing hour, with a key close above the 50dma of sp'2044.
--

**awaiting earnings from DIS, CMG.
-

Frankly, a tiresome day. I had been seeking to launch an index short position, but price action/structure simply looked too bullish.. so I'm on the sidelines.  Sure, we might get stuck in another day or two... but today sure didn't merit any attempt to short this nonsense

It is notable that despite another day of gains, the bigger monthly cycle remains bearish.

Have a good evening
--

more later... on the VIX