Closing Brief

US equities closed significantly lower for the third consecutive day, sp -30pts @ 2061. The two leaders - Trans/R2K, settled lower by -2.0% and -2.3% respectively. With the failure of the 50dma (2067) to hold.. market looks set for continued downside to at least 2040, if not the 2020/10 zone.


sp'60min

Summary

Clearly.. a major victory for the equity bears.. breaking soft support of sp'2085... and closing under the 50dma.

Market looks set for continued downside (regardless of any overnight/early Thursday gains)... to at least 2040... if not the 2020/10 zone.. where the 200dma will be lurking next week.

Have a good evening.

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more later... VIX