Closing Brief

US equities closed moderately weak, sp -12pts @ 2091. The two leaders - Trans/R2K, settled lower by -0.7% and -0.1% respectively. Near term outlook is for the recent retrace low of 2085 to hold, with renewed upside into the sp'2120/30s.


sp'60min

Summary

*a rather weak closing hour... but again.. nothing significant!
--

So, we're two days into the week.... and both have been pretty tedious. Is the market already starting to wind down for the Easter break (US market is closed next Friday, April' 3rd) ?

Despite the net daily declines, overall price action still favours the equity bulls.. and with the VIX dropping to 12.59 earlier today, it does not bode well for those trying to short the indexes.

Indeed, it is highly notable that with the Dow settling -100pts or so... the VIX managed gains of 1-2%.. in the 13s. That is nothing for the equity bears to get excited about.

--
more later... on the VIX