Closing Brief

US equities closed moderately higher, sp +4pts @ 2060 (intra low 2052). The two leaders - Trans/R2K, settled higher by 0.2% and 0.7% respectively. After significant net weekly declines, near term outlook offers renewed weakness next week, first downside target is the 2039 low.. and then the rising 200dma.. currently around 2010.


sp'60min

Summary

*closing hour drama.. as INTC rumoured to be buying ALTR
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... and yet another week at the world's most twisted and rigged casino comes to a close.

Certainly, a week for the equity bears.. with the post FOMC retrace low of sp'2085 failing to hold.. and then giving another 40pts of downside to a Wed' floor of 2045.

All things considered.. bears should have another chance at breaking the 2039 low.. which will offer at least a test of the 200dma in the 2010s by next Tue/Wed.

Have a good weekend.

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*The usual bits and pieces across the evening.. .to wrap up the week
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4.33pm... The Yellen is now answering questions....

'May be warranted'.  Hmmm

Considering price structure, an early Monday gain into the sp'2070s still looks more probable... unless the Greeks can upset the market cart first!