Tuesday, 12 May 2015

Closing Brief

US equities closed moderately weak, sp -6pts @ 2099 (intra low 2085). The two leaders - Trans/R2K, settled lower by -1.2% and -0.2% respectively. Near term outlook is for renewed upside, with the sp'2120/30s by end week. There looks to be viable upside into the 2160/70 zone by the FOMC of June 17th.



*a touch of weakness into the close, but still...the bulls managed to claw the market way above the morning lows.

Certainly, not a dull day.

Opening declines to sp'2085... but they sure didn't hold for long, with clear reversals... as especially seen via TLT and the VIX.

Overall, it would seem the market still has a high likelihood of breaking new historic highs (at least in some indexes).

*I hold short Gold - via GLD, overnight.

more later... on the VIX