Wednesday 13 May 2015

Closing Brief

US equities closed broadly flat, sp -0.6pts @ 2098 (intra high 2110). The two leaders - Trans/R2K, settled lower by -1.0% and -0.1% respectively. Near term outlook still slightly favours new highs in some indexes, but certainly not all. Increasingly, the market looks like it is setting up for a summer retrace/correction.


sp'60min



Summary

*earnings due from CSCO, JCP, and SHAK
--

... and another day comes to a close in the twisted casino.

For yours truly, it not the best of days, but hey.. at least the sun was shining. Thursday is set for rainy gloom, although that is arguably good weather for bears.

*I remain short GLD, seeking an exit in 2-3 days... after the next hourly down cycle.

--
the usual bits and pieces to wrap up the day... across the evening