US equity indexes closed broadly lower, sp -13pts @ 2003 (intra high 2022). The two leaders - Trans/R2K, settled significantly lower by -2.2% and -1.4% respectively. Near term outlook is for renewed upside to the 2030/40s.. with critical resistance within the 2040/60 zone.
*Closing hour action: a new intra low of sp'2001 (21pt swing from the high), but still above the 2K threshold.
Broadly.. a day of chop... mere consolidation before the next push higher.
Awaiting earnings from INTC...
*I hold long-USO overnight.. seeking an exit before the weekend, preferably in the $16s.
more later... on the VIX