Tuesday, 24 November 2015

Closing Brief

US equity indexes closed moderately mixed, sp +2pts @ 2089 (intra low 2070). The two leaders - Trans/R2K, settled -0.6% and +0.7% respectively. Near term outlook is for renewed upside into the 2100s... and to new historic highs >2134.



*closing hour action: mostly micro chop, but with a new intra high of 2094... 1.2% above the morning low.

... and another wacky ride in the casino comes to a close.

I do understand why some will be utterly bemused at this mornings turn around. After all, what was the good news?

Mostly.. it was cyclical, as the smaller 5/15/60min equity cycles were on the very low side. 2070 was the 50% retrace of the recent wave from 2045/97.

This market is headed higher.... although maybe there is no way of knowing where the market is rowing?

The danger must be growing.. for the algo-bots keep on buying....

more later... on the VIX