Wednesday, 30 September 2015

Closing Brief

US equity indexes settled significantly higher, sp +35pts @ 1920. The two leaders - Trans/R2K, settled higher by 1.1% and 1.5% respectively. Near term outlook is borderline... within a broader mid-term downward trend.


sp'60min



Summary

*closing hour action: renewed upside to the hourly upper bollinger... 1920.. borderline break of trend.
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... and September trading comes to a close.

Frankly.. today was a pretty bad end to the month... but the mid-term bearish trend is clearly intact with a second bearish month.

I am increasingly concerned we'll see a renewed push toward the 200dma in the sp'2040/50s... but for now.. that is indeed a borderline situation.

... and yes.. I'm holding short... at least for now.

Have a good evening

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*the usual bits and pieces... to wrap up the day.. and month... later.