Closing Brief

US equities closed with rather significant gains, sp +25pts @ 2065. The two leaders - Trans/R2K, settled higher by 1.2% and 1.7% respectively. Near term outlook offers a continued rally to 2075/80... but there is very significant risk of the market reversing from there.


sp'60min

Summary

*I'm tired... so... this needs to be brief!

Suffice to say... Friday looks set for further gains... but I'm guessing we'll get stuck somewhere around the daily 10MA of 2078/80 or so... where there is also a price gap.

There is a real threat of sp'2000... or even 1940 by end month - if Yellen upsets the market next Wednesday... but more on that later.
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more later.. on the VIX