Monday, 9 March 2015

Closing Brief

US equities settled moderately higher, sp +8pts @ 2079. The two leaders - Trans/R2K, settled higher by 0.2% and 0.5% respectively. Near term outlook offers high probability of one further wave lower to the 50dma in the low sp'2060s. From there.. the broader upward trend will likely resume.



*... I'm tired... so this will be brief

A pretty tedious day... a bounce day, much like last Wed/Thursday.

Market looks set for a fifth minor wave lower.. to around 2065/60. Considering the underlying upward pressure, that final low might be dragged out until Wednesday.

more later... on the VIX