Thursday, 7 May 2015

Closing Brief

US equities closed moderately higher, sp +7pts @ 2088 (intra low 2074). The two leaders - Trans/R2K, settled higher by 1.1% and 0.5% respectively. Near term outlook is very mixed, and will be dependent upon how the monthly jobs data is interpreted. Best guess... another rollover... before further upside.



... a bit of a mixed day of moderate upside.

The open was a bit of a mess... with a minor washout to 2074.. before battling slowly higher into the afternoon.

Market will be highly vulnerable to a snap lower tomorrow... the key level for the bears to break under will be sp'2067.

The smaller 5/15min cycles are offering a bull flag for tomorrow morning.. so there is a sig' threat for anyone holding short overnight.. but what else is new.. right?

*I am content to be on the sidelines overnight.. having dropped GLD-short this morning.

more later, on the VIX