Wednesday, 12 August 2015

Closing Brief

US equities settled moderately mixed, sp +2pts @ 2086 (intra low 2052). The two leaders - Trans/R2K, settled lower by -0.5% and -0.2% respectively. Near term outlook is for renewed weakness, with a target of the sp'2040s and VIX 17/18s.



*new highs in the closing hour... sp'2089.. making for a 37pt hyper ramp from the morning low.

... and another wacky day in the world's most twisted casino comes to a close.

Frankly.. I realise many will be utterly bemused at today's latter day ramp.. but then.. we saw some crazy action just this past Monday.

Broadly, nothing has changed, it remains a case of increasing weakness as seen on the bigger weekly/monthly cycles.

I realise some are seeking new index highs in the weeks ahead.. but I find that implausible.

*I hold long-VIX overnight.. having earlier exited at 16.20... back in at 14.42.. seeking the 17/18s in the next cycle.

more later... on the VIX