Closing Brief

US equities closed significantly higher, sp +27pts @ 1951 (intra low 1893). The two leaders - Trans/R2K, settled higher by 0.5% and 1.5% respectively. Near term outlook is borderline, with the market at soft resistance in the sp'1950s. Any sustained action >1950, will open up a straight run to the 200dma in the 2050/40s.


sp'60min

Summary

*closing hour action: another crazy short-stop cascade.. with a new intra high. What was the excuse? Did the earlier bad jobs news now become good news?
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So much for 'weakness into the weekend'...

... and another wild week in this twisted casino comes to a close.


Frankly, I think it was the hardest trading week since 2011.

It is pretty bizarre to see the market hyper-ramp 58pts (2.9%) across just six trading hours.

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*Yours truly managed to cash out gains in AAPL-short and DAL-short... so that was something. I hold DIS and GE short.. along with VIX-long across the weekend.

Have a good weekend everyone.
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*the usual bits and pieces across the evening to wrap up the crazy week