Closing Brief

US equity indexes closed significantly higher, sp +26pts @ 2104. The two leaders - Trans/R2K, settled higher by 1.5% and 1.2% respectively. Near term outlook is now borderline, bears need to hold the market under the recent failed rally attempt of sp'2112.


sp'60min

Summary

*moderate chop in the closing hour.
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A tiresome and frustrating day to begin the week.

Considering we're just 1.5% away from a new historic high, it remains bizarre how twitchy the mainstream generally are.

Best guess.. renewed downside. The bigger weekly cycles are still suggestive of Dow 17000, sp'2040s, and VIX in the 16/17s.
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more later.. on the VIX