Closing Brief

US equity indexes closed significantly higher, sp +22pts @ 2102. The two leaders - Trans/R2K, settled higher by 1.3% and 0.5% respectively. Near term outlook offers the sp'2115/20 zone, with a broader target of 2150/70 by year end.


sp'60min

Summary

*closing hour action: renewed upside... with a clear short-stop cascade as the sp'2100 threshold was breached.
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So.. we've broken out of the trading range that lasted for a week.

Now it seems just a matter of when we trade into the 2115/20 zone.. and whether the market gets stuck... or just keeps pushing higher.

With price action/structure as it is, a straight run to 2150/70 by the FOMC of Dec'16th looks entirely possible.

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more later... on the VIX