Thursday, 3 September 2015

Closing Brief

It was a day of swings for US equities, with the sp'500 settling +2pts @ 1951 (range 1975/1944). The two leaders - Trans/R2K, settled +0.1% and -0.1% respectively. Near term outlook is for continued upside.. at least to test the psy' level of 2000 next week.



*closing hour.. moderate chop... and despite a new intra low of sp'1944, this was certainly nothing for the equity bears to get overly excited about.

A somewhat tiresome day... so this needs to be short!

Suffice to say.. opening gains - as inspired by Draghi.. then a natural wave lower to the 1950 threshold.

No doubt a fair few bulls were twitchy this afternoon, but all things considered, the broader upward trend from sp'1867 is comfortably intact, and we're set for the sp'2000s next week.

*I hold a micro long-AAPL position overnight.. seeking an exit in the 112/113s tomorrow.

more later... on the VIX