Closing Brief

US equity indexes closed moderately weak, sp -6pts @ 2075 (intra high 2086). The two leaders - Trans/R2K, settled lower by -0.4% and -0.8% respectively. Near term outlook offers the 2050s, with a full natural retrace to the 2020s viable early next week.


sp'60min

Summary

*closing hour action: certainly.. leaning on the weaker side... but just holding within the bear flag.
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So.. we didn't break the bear flag in the closing hour.. but that does look very likely tomorrow.. which should offer a rather sig' net daily decline.

To me, the only issue is whether we can battle to the 2020s by early next week... at which point it will be buying time.. for those who can stomach it.

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more later... on the VIX