Closing Brief

US equity indexes closed significantly higher, sp +25pts @ 1978 (intra high 1983). The two leaders - Trans/R2K, settled higher by 1.8% and 1.1% respectively. Near term outlook is for continued gains, at least to 2000/2010, but with almost equally viable 2040/50s.


sp'60min

Summary

*closing hour: moderate chop.... nothing for the bears to get excited about.
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So.. sig' daily gains as based on... little vol'. Regardless... a day for the bulls.. and it brings within reach the sp'2000s.. something some have been proclaiming lately as 'not likely for the remainder of the year'.

To those currently short, I can only imagine.. today was indeed annoying.

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more later... on the VIX