Closing Brief

US equities closed moderately mixed, sp +7pts @ 2066 (intra high 2072). The two leaders - Trans/R2K, settled -0.8% and +0.3% respectively. Near term outlook remains bearish, with the sp'2039 low set to be broken next Monday. The bigger issue is whether the 200dma will hold... although that has already failed for the Trans'.


sp'60min

Summary

*a stronger closing hour than I had expected, but still holding under the earlier high of sp'2072.
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.... and thus comes to a close.. another week in the twisted casino

The bigger weekly/monthly cycles remain 'moderately' in favour to the equity bears, at the very best.. there is viable downside to the sp'1960/40 zone. Frankly though, in the scheme of things, a 5% drop is nothing particularly exciting, and the market would rally pretty powerfully from any such decline.

Overall, a week for the equity bulls.

Have a good Easter weekend!

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*the usual bits and pieces across the evening to wrap up the week.

**I will post an early Friday update.. on the jobs data.. along with how the futures market reacts.