Thursday, 28 May 2015

Closing Brief

US equities closed moderately weak, sp -2pts @ 2120 (intra low 2112). The two leaders - Trans/R2K, settled -0.9% and -0.1% respectively. Near term outlook is increasingly uncertain. If the USD has maxed out in the DXY 97s, then renewed equity upside will be likely across June.. and probably into July.



*a closing hour of very minor chop, absolutely nothing for the bears to be pleased about.

A tiresome Thursday.

A day when the equity bears failed to show any real downside power... as reflected in a VIX that was unable to break into the 14s.

The transports remains exceptionally weak, but as ever.. it is just one index.. and the broader market remains well within its primary upward trend.

more later...on the lowly VIX