Closing Brief

US equities closed moderately mixed, sp -3pts @ 2092 (intra low 2085). The two leaders - Trans/R2K, settled higher by 0.9% and 0.8% respectively. Near term outlook is for renewed upside, with new historic highs viable in 'some' indexes. A broader market correction looks increasingly probable this summer/early autumn.


sp'60min

Summary

*as expected, closing hour was minor chop
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... and another week comes to a close.

Certainly, it was a bit of a messy week, not least Wednesday, with the failed upside break (above resistance of 2115), but then reversing back lower.

All things considered, there is viable upside in the near term, and we could easily be trading in the 2140/50s by the FOMC of June 17th. For me, the only issue is whether we'll manage to keep clawing higher into the July 4th holiday period... to the sp'2160/80 zone.

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