Closing Brief

US equities closed moderately mixed, sp -7pts @ 2074 (intra low 2065). The two leaders - Trans/R2K, settled -0.1% and +0.2% respectively. Near term outlook offers a FOMC spike to 2085/90 zone... before a strong reversal. The manner in which the market closes Wednesday will be pretty important.


sp'60min

Summary

*closing hour was indeed choppy, with some weakness into the close.
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Little to add.

Interesting second bullish F flag failure in three trading days. It does not bode for the bulls.

However.. a brief spike to sp'2085/90 is viable around 2.00-2.15pm.. before a reversal.
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more later... on the VIX