Closing Brief

US equity indexes closed significantly lower, sp -24pts @ 1942 (intra low 1929). The two leaders - Trans/R2K, settled lower by -2.5% and -1.5% respectively. Near term outlook offers a test of the sp'1900 threshold.. which will likely not hold.


sp'60min

Summary

*closing hour... moderate bounce... but in the scheme of things... nothing for the equity bulls to get excited about.
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So... a sig' net daily decline, a day for the bears, not least those who bravely (or recklessly?) were short overnight.

Broadly.. the bigger weekly/monthly cycles are absolutely crystal clear.. we're headed lower into Oct'.

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*yours truly is short overnight... AAPL, INTC, SPY, and long-VIX.

Seeking a provisional exit in the 1900/1870 zone.. which seems entirely viable before the weekend.
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more later.. on the VIX