Closing Brief

US equities closed significantly higher, sp +33pts @ 2083. The two leaders - Trans/R2K, both settled higher by 1.6%. Near term outlook offers threat of a minor retrace, but broadly.. the 2100s look a given, with new historic highs into year end, highly probable.


sp'60min

Summary

*closing action hour: a little chop, but then new intraday highs.. as there is simply no downside power.
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The Monday opening low of sp'2019 is now 3.2% lower... and looks extremely secure.... for this week.. the month.. and probably.. rest of the year.

I have remained of the view higher rates as bullish for the economy/market.. and I see nothing to change that.

The only thing that could (ironically) screw things up is if the Fed do not raise at the Dec' FOMC. The next jobs data will be the last key data point for the maniacs at PRINT HQ to assess.

Right now.. with the market in 'everything is fine' mode... the Fed have an open door to raise.

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more later.. on the VIX