Monday, 23 November 2015

Closing Brief

US equity indexes closed moderately mixed, sp -2pts at 2086 (intra high 2095). The two leaders - Trans/R2K, settled -0.9% and +0.4% respectively. Regardless of any further retrace, the broader trend remains bullish into the 2100s... and to new historic highs before year end.



*closing hour action: minor chop, with a daily close under the hourly 10MA.

So.. a lot of chop.. with increasing weakness into the late afternoon.

Further weakness looks viable early tomorrow... especially in order to hit the basic fib' retrace of 2077.

Regardless... this is no market to short, as price action simply isn't remotely bearish. We look headed broadly higher.

more later... on the VIX