Friday, 26 June 2015

Closing Brief

US equities closed somewhat weak, sp -0.7pts @ 2101 (intra low 2095). The two leaders - Trans/R2K, settled u/c and -0.2% respectively. Near term outlook is bearish for Mon/Tuesday, best downside case remains the sp'2060s, with VIX 16/17s.



*closing hour was mostly chop.... but with certainly leaning on the upside. For the bears.... it was annoying, but the downward channel did at least hold.

.. and another wacky week in the twisted US market comes to a close.

Most had expected a Greek by now.... but no.. it is going to drag out across the weekend and into next week.

My best guess? A last minute deal, late Monday/Tuesday... with the market rallying from there.

I still fear some degree of multi-week rally across July and into early August, and until then.. I will be very cautious on any short side trades.

*holding LONG VIX across the weekend, but I have Oct' calls.. and I'm not concerned about the ticking detonator clock.

Have a good weekend
*the usual bits and pieces across the evening to wrap up the week.