Closing Brief

US equities closed a little higher, sp +5pts @ 2081 (intra high 2086). The two leaders - Trans/R2K, both settled higher by 0.7%. Near term outlook remains very mixed, whilst the market remains stuck between resistance of 2088/89 and the recent low of 2039.


sp'60min

Summary

*closing hour was another chop-fest.
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.. for those trading the indexes.. it remains a very frustrating market. Price action remains pretty choppy, with a market that is clearly stuck under resistance... but which is also unable to break sharply lower.
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4.22pm.. Alcoa (AA) earnings were 'reasonable'... but the market is not happy...

5min cycle.. into AH trading..

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more later.. on the VIX