US equities saw some distinct weakness in the late afternoon, but still
closed significantly higher for the second consecutive day, sp +47pts @
1987 (intra high 1989). The two leaders - Trans/R2K, settled higher by
2.4% and 1.8% respectively. Near term outlook offers further cooling to
the 1940s.. before resuming upward >2000.
sp'daily5
Dow
Summary
A second powerful day of gains, although with a very wild afternoon.
Broadly, the market looks set to challenge the sp'2000 threshold within the next 1-3 trading days. From there.. an attempt to break above the key resistance zone of 2050/70 looks a given by mid September.
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a little more later...
