Closing Brief

US equity indexes closed significantly higher, sp +25pts @ 2105 (intra high 2108). The two leaders - Trans/R2K, settled higher by 0.7% and 1.4% respectively. Near term outlook has turned bullish, with a cycle low of 2072. Further upside into the FOMC of June 17th look due.. if not somewhat beyond to the 2150/70s.


sp'60min

Summary

*a choppy closing hour, but nothing for the bulls to be concerned about.
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A decisive break above resistance.

Regardless of any minor weakness tomorrow morning (if any)... its a pretty clear change of trend. sp'2072 is likely a key short term floor.. and now we're seemingly headed higher into next weeks FOMC.

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more later... on the VIX