Closing Brief

US equities settled moderately higher, sp +8pts @ 1961 (intra low 1939). The two leaders - Trans/R2K, settled higher by 0.3% and 0.4% respectively. Near term outlook is for continued upside into the FOMC, at least to the sp'2000/2010 zone, however there is risk of 2050/70.. before the next big rollover.


sp'60min

Summary

... and another crazy (if short) week comes to a close.

We've seen more powerful swings, from 1988 to 1927.

It is hard to guess where we will max out in the current cycle.. but what should be clear to most bears.. there is NO hurry to short this market. Lets see how high the bull maniacs can ramp this nonsense next week!

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*yours truly remains holding USO-long across the weekend... seeking to drop no later than next Wed'

Two profitable exits this week (AAPL, DIS)... adds to reserves for the big short.. after the FOMC.
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Have a good weekend everyone
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*the usual bits and pieces across the evening to wrap up the trading day.