Monday, 12 October 2015

Closing Brief

US equity indexes closed moderately mixed, sp +2pts @ 2017. The two leaders - Trans/R2K, settled +0.1% and -0.1% respectively. Near term outlook is for further upside to the 2040/60 zone before the next FOMC of Oct' 28th.



After the rather wild swings since mid August, it was the quietest trading day in at least a few months.

Energy stocks saw sig' weakness, as Oil cooled from the $50 threshold to the $47s.

Broadly, equities still look set to push higher.. certainly above the recent 2020 high, and likely to 2040/50. Clearly, there will be powerful resistance at the 200dma around 2060.

more later... on the VIX