Monday 9 February 2015

Closing Brief

US equities closed moderately weak, sp -8pts @ 2046. The two leaders - Trans/R2K, settled lower by -1.0% and -0.8% respectively. Near term outlook is for sp'2025/20 zone... which would seem highly probable with continued concern about a looming GREXIT.


sp'60min


vix'60min


Summary

*I'm tired... so I'm keeping things short.
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Suffice to say... it would seem that bears will see a major down wave tomorrow.... possibly all the way to the 2025/20 zone. No doubt, that will get many of the doomers somewhat excited, but.... considering last weeks hyper-gains.... it will only make for a 50% retrace or so.

I will add, I do think it rather important for the market to make new highs within the next few weeks.

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A daily wrap at 8pm EST