Closing Brief

US equities ended the week on a very bearish note, sp -29pts @ 1921 (intra low 1911). The two leaders - Trans/R2K, settled lower by -1.0% and -0.8% respectively. Near term outlook is borderline, if market can hold >1900, then 2000 into FOMC week, otherwise... the bull maniacs have a real problem.


sp'60min

Summary

*closing hour action: some significant short-stop cascade into the close... with perhaps a few brave bull maniacs chasing higher.. on hopes that we'll open higher next Tuesday
--

.... and another wild week in market land come to a close.

Without question, a week for the bears

Best guess.. we still push higher to sp'2000... but that a major collapse wave is due after mid Sept'... regardless of whether the fed raise rates or not.

Good to hear from many of you this week :)

Get some rest across the three day holiday weekend!
--

*the usual bits and pieces across the evening to wrap up the week