Thursday, 11 June 2015

Closing Brief

US equities closed broadly higher, sp +3pts @ 2108 (intra high 2115). The two leaders - Trans/R2K, settled higher by 1.1% and 0.1% respectively. Near term outlook is for continued upside into the FOMC of June 17th. The bigger weekly/monthly cycles are both offering the 2150s before end month.



*a touch of weakness in the late afternoon, but really, its nothing for the equity bears to get excited about.

A pretty quiet day in market land.

It looks like the equity bears won't even be able to manage a retrace to the sp'2100 threshold, before 2120/30s by middle of next week.

The only issue is whether market can cope with the Yellen next week.. and just keep clawing higher, to tag the upper bollinger on the weekly and/or monthly cycle.

In either case... seems zero point being short the market in the immediate term.

Have a good evening

4.12pm...  TWTR  CEO has quit....  stock snapping higher... on the 'good news'

Despite the initial ramp... the big $50 level... is a very long way up.

more later... on the VIX