Thursday, 26 March 2015

Closing Brief

US equities closed moderately weak, sp -4pts @ 2056 (intra low 2045), having seen a sig' bounce to 2067. The two leaders - Trans/R2K, settled -0.6% and -0.1% respectively. With technical breaks on the daily cycles, there looks to be further weakness into early next week... to the sp'2020/10 zone... where the 200dma will be lurking.



*market certainly cooled from the 2pm high, with minor weakness into the close

The pre-market declines were offering an open around 2040.. so.. the morning decline to 2045 was no surprise.

No doubt some will (understandably) believe the March'11th low of 2039 will hold.

As things.. with so many clear breaks on the daily charts (see later post at 8pm EST) - lead by the Transports, it would seem we'll continue lower into next week.

Things really only get exciting for the equity bears on a break of the 200dma.. which next Monday will be around 2010. If that fails to hold... then 'best case downside' is around 1960/40.. but for now.. that is more of a wistful hope... than anything.

Have a good evening.
more later.. on the VIX