Closing Brief

US equities closed moderately mixed, sp +1pt @ 2128 (intra high 2132). The two leaders - Trans/R2K, settled lower by -0.4% and -0.5% respectively. Near term outlook offers a retrace, but with price action as it is, even the sp'2100 threshold looks a stretch. Regardless, broader upside into August.


sp'60min

Summary

*closing hour was notably weak, with a clear break of short term rising trend.
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Little to add.. on what was a very tedious and dull Monday..aside from the action in the precious metals.. and the
related mining stocks.

A retrace to sp'2100 looks due. Whether the decline can fill the lower gap of sp'2080... very difficult to say. Bears could do with some 'spooky news' from Greece.
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*I remain short the market via a small block of VIX, seeking the 15s... but that won't be easy.. unless sp'2090/85.
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Awaiting IBM earnings.. due at the close

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more later... on the VIX