Closing Brief

Equities closed moderately weak, sp -10pts @ 2105. The two leaders - Trans/R2K, settled -0.1% and +0.1% respectively. Near term outlook offers Tuesday weakness to sp'2095/90, before the broader trend reasserts itself. The sp'2140s remain a valid upside target by end week.


sp'60min

Summary

*closing hour was moderately weak as expected
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... a pretty subdued start to the week, but that is okay, as everyone gets a chance to be positioned as they wish.

Regardless of overnight action, some further weakness looks due tomorrow.... to sp'2095/90 zone.. with some degree of latter day recovery.

The broader trend remains.... UP.
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*I remain on the sidelines, but will consider a GLD-short tomorrow morning... broader price structure remains very bearish to the Gold $1000 threshold.

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more later... on the VIX